Nationwide Fund Advisors trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 872,928 shares of the financial services provider’s stock after selling 63,046 shares during the period. Nationwide Fund Advisors owned 0.05% of U.S. Bancorp worth $45,322,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its stake in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after buying an additional 17 shares during the period. BSW Wealth Partners increased its stake in shares of U.S. Bancorp by 0.6% in the 2nd quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock valued at $207,000 after buying an additional 22 shares during the period. First National Bank of Hutchinson increased its stake in shares of U.S. Bancorp by 0.3% in the 2nd quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. increased its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after buying an additional 36 shares during the period. Finally, Budros Ruhlin & Roe Inc. increased its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after buying an additional 39 shares during the period. 74.66% of the stock is owned by hedge funds and other institutional investors.
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U.S. Bancorp (NYSE:USB) opened at $51.83 on Wednesday. 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 firm has a market capitalization of $85,760.00, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. U.S. Bancorp has a twelve month low of $47.59 and a twelve month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting analysts’ consensus estimates of $0.88. The company 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 quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. equities analysts predict that U.S. Bancorp will post 3.43 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s payout ratio is 35.71%.
Several equities research analysts have recently commented on USB shares. Nomura lifted their target price on U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Citigroup Inc. reaffirmed a “neutral” rating and set a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.82.
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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