South State Corp decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,756 shares of the financial services provider’s stock after selling 6,320 shares during the quarter. U.S. Bancorp accounts for approximately 1.3% of South State Corp’s portfolio, making the stock its 15th largest position. South State Corp’s holdings in U.S. Bancorp were worth $10,163,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Shelton Capital Management grew its holdings in shares of U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 45,116 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of U.S. Bancorp by 16.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 52,380 shares in the last quarter. Oarsman Capital Inc. grew its holdings in shares of U.S. Bancorp by 4.5% during the second quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 488 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after purchasing an additional 159,319 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in U.S. Bancorp by 13.1% in the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 4,683 shares in the last quarter. 74.23% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Wells Fargo & Company assumed coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. BidaskClub lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Bank of America Corporation lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $56.00 to $54.00 in a research note on Monday, October 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.82.
Shares of U.S. Bancorp (NYSE USB) opened at $51.61 on Monday. U.S. Bancorp has a 12 month low of $47.43 and a 12 month high of $56.61. The company has a market capitalization of $85,646.33, a price-to-earnings ratio of 15.31, a PEG ratio of 2.01 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79.
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, hitting analysts’ consensus estimates of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. equities research analysts anticipate that U.S. Bancorp will post 3.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. U.S. Bancorp’s dividend payout ratio (DPR) is 35.61%.
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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