B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund held its position in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,997 shares of the financial services provider’s stock at the end of the 2nd quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in U.S. Bancorp were worth $1,973,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Shelton Capital Management lifted its position in shares of U.S. Bancorp by 51.2% during the first 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. Bank of Montreal Can lifted its position in shares of U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after purchasing an additional 159,319 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 4,683 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of U.S. Bancorp by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after purchasing an additional 73,504 shares in the last quarter. Finally, Country Trust Bank lifted its position in shares of U.S. Bancorp by 2.2% during the second quarter. Country Trust Bank now owns 610,921 shares of the financial services provider’s stock worth $31,719,000 after purchasing an additional 13,130 shares in the last quarter. Institutional investors own 73.95% of the company’s stock.
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Shares of U.S. Bancorp (NYSE:USB) opened at 54.13 on Tuesday. The firm has a market capitalization of $90.55 billion, a PE ratio of 16.35 and a beta of 0.87. U.S. Bancorp has a one year low of $43.50 and a one year high of $56.61. The firm’s 50 day moving average is $53.03 and its 200-day moving average is $52.15.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a return on equity of 13.82% and a net margin of 28.23%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.84 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post $3.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.22%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.61%.
U.S. Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
USB has been the topic of a number of recent research reports. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, August 11th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, July 20th. Robert W. Baird reissued a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $54.06.
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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