CenterBook Partners LP acquired a new position in shares of U.S. Bancorp (NYSE:USB – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 93,945 shares of the financial services provider’s stock, valued at approximately $5,426,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Archer Investment Corp purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $29,000. Parvin Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth approximately $30,000. Main Street Group LTD purchased a new position in U.S. Bancorp in the 1st quarter valued at approximately $28,000. John Boyer Inc. purchased a new position in U.S. Bancorp in the 3rd quarter valued at approximately $34,000. Finally, NFSG Corp purchased a new position in U.S. Bancorp in the 1st quarter valued at approximately $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.21% of the company’s stock.
U.S. Bancorp Trading Down 0.4%
Shares of NYSE:USB traded down $0.26 during midday trading on Friday, reaching $59.49. The company’s stock had a trading volume of 10,667,093 shares, compared to its average volume of 7,615,397. The firm has a market cap of $92.68 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The business has a 50 day moving average price of $59.65 and a 200 day moving average price of $58.18.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the firm posted $1.22 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 5.30 EPS for the current year.
U.S. Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is currently 42.11%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. HSBC boosted their target price on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. lifted their price target on U.S. Bancorp from $65.00 to $65.50 and gave the stock a “neutral” rating in a research note on Friday, October 30th. CLSA set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Thursday, October 29th. Finally, Barclays increased their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.
View Our Latest Research Report on USB
U.S. Bancorp Company Profile
U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.
U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.
Headquartered in Minneapolis, Minnesota, U.S.
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