Bridgewater Associates LP Has $214,000 Stake in U.S. Bancorp (USB)

Bridgewater Associates LP lessened its position in shares of U.S. Bancorp (NYSE:USB) by 83.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,118 shares of the financial services provider’s stock after selling 21,307 shares during the quarter. Bridgewater Associates LP’s holdings in U.S. Bancorp were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in USB. New England Asset Management Inc. increased its holdings in U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the last quarter. Principal Financial Group Inc. increased its holdings in U.S. Bancorp by 154.2% in the 2nd quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock valued at $303,034,000 after purchasing an additional 3,540,530 shares during the last quarter. AQR Capital Management LLC increased its holdings in U.S. Bancorp by 54.2% in the 1st quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock valued at $241,961,000 after purchasing an additional 1,652,219 shares during the last quarter. American Century Companies Inc. increased its holdings in U.S. Bancorp by 20.9% in the 2nd quarter. American Century Companies Inc. now owns 9,184,921 shares of the financial services provider’s stock valued at $476,881,000 after purchasing an additional 1,590,023 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in U.S. Bancorp by 21.0% in the 2nd quarter. Fiera Capital Corp now owns 8,280,657 shares of the financial services provider’s stock valued at $429,932,000 after purchasing an additional 1,438,835 shares during the last quarter. 74.66% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently weighed in on USB. J P Morgan Chase & Co dropped their target price on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a report on Thursday, October 19th. Finally, Nomura downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $55.00 in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $53.82.

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Shares of U.S. Bancorp (NYSE USB) opened at $51.68 on Tuesday. The stock has a market cap of $85,646.33, a price-to-earnings ratio of 15.31, a PEG ratio of 2.01 and a beta of 0.86. U.S. Bancorp has a 1 year low of $47.59 and a 1 year high of $56.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company earned $0.84 earnings per share. U.S. Bancorp’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts anticipate that U.S. Bancorp will post 3.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. U.S. Bancorp’s payout ratio is 35.61%.

U.S. Bancorp Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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