Westwood Holdings Group Inc. Has $111.06 Million Holdings in U.S. Bancorp (NYSE:USB)

Westwood Holdings Group Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,156,457 shares of the financial services provider’s stock after selling 75,827 shares during the quarter. U.S. Bancorp accounts for about 0.9% of Westwood Holdings Group Inc.’s investment portfolio, making the stock its 25th largest holding. Westwood Holdings Group Inc. owned 0.13% of U.S. Bancorp worth $111,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jane Street Group LLC boosted its position in U.S. Bancorp by 126.9% during the 1st quarter. Jane Street Group LLC now owns 78,547 shares of the financial services provider’s stock worth $4,046,000 after acquiring an additional 43,935 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $641,000. Shelton Capital Management lifted its holdings in shares of U.S. Bancorp by 51.2% during the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after buying an additional 45,116 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of U.S. Bancorp by 220.2% during the 1st quarter. Paloma Partners Management Co now owns 90,010 shares of the financial services provider’s stock valued at $4,635,000 after buying an additional 164,866 shares during the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of U.S. Bancorp by 10.0% during the 1st quarter. National Asset Management Inc. now owns 5,385 shares of the financial services provider’s stock valued at $279,000 after buying an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.

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Several brokerages have recently issued reports on USB. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. 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 Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company initiated coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.08.

Shares of U.S. Bancorp (USB) opened at 53.61 on Tuesday. The company has a 50-day moving average price of $52.00 and a 200 day moving average price of $52.08. The firm has a market cap of $89.68 billion, a price-to-earnings ratio of 16.20 and a beta of 0.87. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Analysts expect that U.S. Bancorp will post $3.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. This is a

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jane Street Group LLC boosted its position in U.S. Bancorp by 126.9% during the 1st quarter. Jane Street Group LLC now owns 78,547 shares of the financial services provider’s stock worth $4,046,000 after acquiring an additional 43,935 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $641,000. Shelton Capital Management lifted its holdings in shares of U.S. Bancorp by 51.2% during the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after buying an additional 45,116 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of U.S. Bancorp by 220.2% during the 1st quarter. Paloma Partners Management Co now owns 90,010 shares of the financial services provider’s stock valued at $4,635,000 after buying an additional 164,866 shares during the last quarter. Finally, National Asset Management Inc. lifted its holdings in shares of U.S. Bancorp by 10.0% during the 1st quarter. National Asset Management Inc. now owns 5,385 shares of the financial services provider’s stock valued at $279,000 after buying an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/09/26/westwood-holdings-group-inc-lowers-holdings-in-u-s-bancorp-usb.html.

Several brokerages have recently issued reports on USB. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. 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 Tuesday, September 5th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company initiated coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.08.

Shares of U.S. Bancorp (USB) opened at 53.61 on Tuesday. The company has a 50-day moving average price of $52.00 and a 200 day moving average price of $52.08. The firm has a market cap of $89.68 billion, a price-to-earnings ratio of 16.20 and a beta of 0.87. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Analysts expect that U.S. Bancorp will post $3.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is 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 is currently 33.63%.

U.S. Bancorp declared that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.

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

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