Yacktman Asset Management LP lowered its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,932,318 shares of the financial services provider’s stock after selling 22,560 shares during the quarter. U.S. Bancorp accounts for approximately 2.6% of Yacktman Asset Management LP’s investment portfolio, making the stock its 11th largest position. Yacktman Asset Management LP owned approximately 0.30% of U.S. Bancorp worth $264,323,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Stelac Advisory Services LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $103,000. Phocas Financial Corp. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $109,000. Pathstone Family Office LLC lifted its holdings in shares of U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 386 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in shares of U.S. Bancorp by 0.4% during the second quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 17 shares during the last quarter. Finally, Cadence Bank NA purchased a new stake in U.S. Bancorp in the 3rd quarter worth about $201,000. 73.96% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Jefferies Group reissued a “buy” rating and issued a $63.00 price objective on shares of U.S. Bancorp in a research note on Monday, January 8th. Vining Sparks reissued a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a research note on Monday, January 8th. Piper Jaffray Companies raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective for the company in a research note on Friday, January 5th. Barclays increased their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, UBS Group lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $56.22.
U.S. Bancorp (NYSE USB) opened at $56.98 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $94,560.00, a PE ratio of 16.96, a PEG ratio of 1.93 and a beta of 0.85. U.S. Bancorp has a fifty-two week low of $49.53 and a fifty-two week high of $57.12.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (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 analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. analysts expect that U.S. Bancorp will post 3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.71%.
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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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