Farmers National Bank boosted its stake in U.S. Bancorp (NYSE:USB) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,408 shares of the financial services provider’s stock after purchasing an additional 166 shares during the quarter. Farmers National Bank’s holdings in U.S. Bancorp were worth $1,004,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Shelton Capital Management lifted its stake in U.S. Bancorp by 51.2% in the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 45,116 shares in the last quarter. Investment Partners Ltd. OH ADV lifted its stake in U.S. Bancorp by 33.6% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 2,024 shares in the last quarter. New England Asset Management Inc. lifted its stake in U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after purchasing an additional 9,150,126 shares in the last quarter. Nelson Roberts Investment Advisors LLC lifted its stake in U.S. Bancorp by 0.3% in the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock worth $6,198,000 after purchasing an additional 320 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in U.S. Bancorp by 1.7% in the 1st quarter. Prudential Financial Inc. now owns 2,824,398 shares of the financial services provider’s stock worth $145,457,000 after purchasing an additional 46,030 shares in the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.
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Shares of U.S. Bancorp (USB) traded up 0.902% during midday trading on Wednesday, hitting $52.035. 3,116,332 shares of the stock traded hands. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61. The company has a market cap of $87.04 billion, a price-to-earnings ratio of 15.721 and a beta of 0.87. The stock has a 50-day moving average of $52.11 and a 200-day moving average of $52.22.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities analysts predict that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
USB has been the topic of several research analyst reports. BidaskClub cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Robert W. Baird restated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $52.50.
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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