Griffin Asset Management Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 69,846 shares of the financial services provider’s stock, valued at approximately $3,626,000.
Other institutional investors have also recently made changes to their positions in the company. Stelac Advisory Services LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $103,000. Phocas Financial Corp. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $109,000. Pathstone Family Office LLC grew its stake in shares of U.S. Bancorp by 13.2% during the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 386 shares during the period. Hudock Capital Group LLC grew its stake 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 worth $197,000 after purchasing an additional 17 shares during the period. Finally, Opus Capital Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $202,000. Institutional investors own 74.07% of the company’s stock.
A number of research firms have recently weighed in on USB. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. J P Morgan Chase & Co lowered their price target on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Jefferies Group reaffirmed a “buy” rating and set a $62.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 12th. Citigroup reaffirmed a “neutral” rating and set a $58.00 price target (up from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Finally, Robert W. Baird reissued a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.20.
Shares of U.S. Bancorp (USB) traded up $0.46 during midday trading on Monday, reaching $55.36. 4,371,800 shares of the company were exchanged, compared to its average volume of 6,057,066. The firm has a market cap of $91,869.42, a PE ratio of 16.43, a price-to-earnings-growth ratio of 2.15 and a beta of 0.85. U.S. Bancorp has a 12-month low of $49.53 and a 12-month 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 issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. analysts predict that U.S. Bancorp will post 3.43 earnings per share for the current year.
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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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