Fairfield Bush & CO. grew its holdings in U.S. Bancorp (NYSE:USB) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,668 shares of the financial services provider’s stock after acquiring an additional 700 shares during the period. Fairfield Bush & CO.’s holdings in U.S. Bancorp were worth $1,281,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new stake in U.S. Bancorp during the second quarter worth $103,000. SRS Capital Advisors Inc. boosted its holdings in U.S. Bancorp by 17.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares in the last quarter. Pathstone Family Office LLC boosted its holdings in U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after buying an additional 386 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in U.S. Bancorp by 0.4% during the second quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock worth $197,000 after buying an additional 17 shares in the last quarter. Finally, Opus Capital Group LLC purchased a new stake in U.S. Bancorp during the second quarter worth $202,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on USB. Jefferies Group reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Oppenheimer reissued a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Morgan Stanley increased their price target on shares of U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Nomura downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $54.20.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting 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 net margin of 25.46% and a return on equity of 13.91%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. equities research analysts predict that U.S. Bancorp will post 3.43 earnings per share for the current year.
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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