Ropes Wealth Advisors LLC decreased its position in U.S. Bancorp (NYSE:USB) by 25.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,367 shares of the financial services provider’s stock after selling 3,240 shares during the period. Ropes Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $502,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Stelac Advisory Services LLC acquired a new position in U.S. Bancorp in the second quarter valued at about $103,000. Phocas Financial Corp. acquired a new position in U.S. Bancorp in the second quarter valued at about $109,000. Horan Capital Advisors LLC. acquired a new position in U.S. Bancorp in the third quarter valued at about $112,000. Pathstone Family Office LLC lifted its stake in U.S. Bancorp by 13.2% in the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the period. Finally, Hudock Capital Group LLC lifted its stake in U.S. Bancorp by 0.4% in the second 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. Institutional investors and hedge funds own 73.96% of the company’s stock.
Several equities analysts have weighed in on USB shares. Nomura increased 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 lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Citigroup reissued a “neutral” rating and issued a $58.00 target price (up previously from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. JPMorgan Chase & Co. cut their target price on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $63.00 target price on shares of U.S. Bancorp in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $56.22.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate 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%. U.S. Bancorp’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. research analysts forecast that U.S. Bancorp will post 3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is currently 35.71%.
U.S. Bancorp Company 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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