Morningstar Investment Services LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 388.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,059 shares of the financial services provider’s stock after buying an additional 186,158 shares during the quarter. Morningstar Investment Services LLC’s holdings in U.S. Bancorp were worth $8,508,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Magellan Asset Management Ltd acquired a new stake in shares of U.S. Bancorp during the first quarter worth $27,000. Costello Asset Management INC bought a new position in U.S. Bancorp during the second quarter worth $37,000. Bellevue Asset Management LLC boosted its stake in U.S. Bancorp by 68.6% during the first quarter. Bellevue Asset Management LLC now owns 1,079 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 439 shares in the last quarter. Marquette Asset Management LLC boosted its stake in U.S. Bancorp by 94.9% during the first quarter. Marquette Asset Management LLC now owns 1,232 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 600 shares in the last quarter. Finally, Red Door Wealth Management LLC bought a new position in U.S. Bancorp during the first quarter worth $61,000. Institutional investors own 73.54% of the company’s stock.
Several brokerages recently issued reports on USB. DA Davidson began coverage on shares of U.S. Bancorp in a research note on Thursday, June 11th. They set a “buy” rating and a $47.00 target price on the stock. Oppenheimer increased their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Wells Fargo & Co increased their target price on shares of U.S. Bancorp from $40.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Stephens cut their target price on shares of U.S. Bancorp from $47.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Finally, Zacks Investment Research raised shares of U.S. Bancorp from a “strong sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.31.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. U.S. Bancorp had a net margin of 19.70% and a return on equity of 11.82%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.68 annualized dividend and a dividend yield of 4.56%. U.S. Bancorp’s payout ratio is 38.71%.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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