Icon Advisers Inc. Co. raised its holdings in U.S. Bancorp (NYSE:USB) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,600 shares of the financial services provider’s stock after acquiring an additional 2,700 shares during the period. Icon Advisers Inc. Co.’s holdings in U.S. Bancorp were worth $1,433,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Stelac Advisory Services LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $103,000. SRS Capital Advisors Inc. increased its position in shares of U.S. Bancorp by 17.0% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 371 shares during the last quarter. Orrstown Financial Services Inc. increased its position in shares of U.S. Bancorp by 30.4% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 681 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 17 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its position in shares of U.S. Bancorp by 16.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,905 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 555 shares during the last quarter. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
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U.S. Bancorp (NYSE:USB) opened at $51.68 on Tuesday. The company has a market capitalization of $85,646.33, a P/E ratio of 15.31, a PEG ratio of 2.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a one year low of $47.59 and a one year high of $56.61.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. analysts expect that U.S. Bancorp will post 3.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.61%.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. J P Morgan Chase & Co reduced their price objective on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Jefferies Group LLC reiterated a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 12th. Citigroup Inc. reiterated a “neutral” rating and set a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Finally, Robert W. Baird reiterated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $53.82.
About U.S. Bancorp
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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