Payden & Rygel bought a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 211,300 shares of the financial services provider’s stock, valued at approximately $11,324,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after purchasing an additional 1,727,498 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after purchasing an additional 110,571 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of U.S. Bancorp by 5,598.0% during the 2nd quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock worth $656,975,000 after purchasing an additional 12,431,466 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of U.S. Bancorp by 2.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 11,901,940 shares of the financial services provider’s stock worth $637,825,000 after purchasing an additional 276,373 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of U.S. Bancorp by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 9,184,921 shares of the financial services provider’s stock worth $476,881,000 after purchasing an additional 1,590,023 shares in the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of U.S. Bancorp (NYSE:USB) traded up $1.10 during mid-day trading on Friday, reaching $53.75. The company had a trading volume of 12,328,138 shares, compared to its average volume of 7,310,000. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.73. The firm has a market cap of $89,200.00, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. U.S. Bancorp has a twelve month low of $49.53 and a twelve month high of $58.50.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. research analysts anticipate that U.S. Bancorp will post 4.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.20 annualized dividend and a yield of 2.23%. U.S. Bancorp’s payout ratio is 34.19%.
Several brokerages have recently weighed in on USB. Vining Sparks reissued a “hold” rating and set a $61.00 price objective on shares of U.S. Bancorp in a report on Thursday, January 25th. Deutsche Bank raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $63.00 in a report on Thursday, January 25th. Morgan Stanley lifted their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the stock an “underweight” rating in a report on Friday, February 2nd. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price objective on the stock. in a report on Wednesday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.13.
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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