Edgestream Partners L.P. purchased a new position in U.S. Bancorp (NYSE:USB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,445 shares of the financial services provider’s stock, valued at approximately $641,000.
Several other large investors have also made changes to their positions in USB. V Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at $209,000. Candriam Luxembourg S.C.A. grew its position in shares of U.S. Bancorp by 49.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 196,546 shares of the financial services provider’s stock valued at $10,123,000 after purchasing an additional 65,423 shares during the period. Nationwide Fund Advisors grew its position in shares of U.S. Bancorp by 13.5% in the first quarter. Nationwide Fund Advisors now owns 935,974 shares of the financial services provider’s stock valued at $48,203,000 after purchasing an additional 111,333 shares during the period. Culbertson A N & Co. Inc. grew its position in shares of U.S. Bancorp by 4.2% in the first quarter. Culbertson A N & Co. Inc. now owns 42,208 shares of the financial services provider’s stock valued at $2,174,000 after purchasing an additional 1,700 shares during the period. Finally, Country Trust Bank grew its position in shares of U.S. Bancorp by 16.5% in the first quarter. Country Trust Bank now owns 597,791 shares of the financial services provider’s stock valued at $30,786,000 after purchasing an additional 84,551 shares during the period. 74.21% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on USB. Wells Fargo & Company began coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.50.
COPYRIGHT VIOLATION WARNING: This news story was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/09/17/edgestream-partners-l-p-acquires-shares-of-12445-u-s-bancorp-usb.html.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.33% during mid-day trading on Friday, reaching $51.81. The company’s stock had a trading volume of 6,146,008 shares. The company has a 50 day moving average price of $52.00 and a 200 day moving average price of $52.17. The stock has a market capitalization of $86.67 billion, a P/E ratio of 15.65 and a beta of 0.87. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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.
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.