Westpac Banking Corp Has $5.78 Million Position in U.S. Bancorp (USB)

Westpac Banking Corp cut its position in shares of U.S. Bancorp (NYSE:USB) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 109,382 shares of the financial services provider’s stock after selling 5,984 shares during the quarter. Westpac Banking Corp’s holdings in U.S. Bancorp were worth $5,776,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of U.S. Bancorp by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock valued at $1,182,431,000 after purchasing an additional 750,796 shares during the period. Lau Associates LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter valued at $317,000. Parallel Advisors LLC boosted its stake in shares of U.S. Bancorp by 24.5% during the 2nd quarter. Parallel Advisors LLC now owns 12,749 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 2,505 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of U.S. Bancorp by 30.0% during the 3rd quarter. Synovus Financial Corp now owns 30,944 shares of the financial services provider’s stock worth $1,632,000 after acquiring an additional 7,135 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of U.S. Bancorp by 1.0% during the 3rd quarter. Creative Planning now owns 313,653 shares of the financial services provider’s stock worth $16,564,000 after acquiring an additional 3,100 shares in the last quarter. Institutional investors own 74.39% of the company’s stock.

Shares of U.S. Bancorp stock opened at $54.46 on Friday. The firm has a market capitalization of $87.33 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. U.S. Bancorp’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, analysts predict that U.S. Bancorp will post 4.1 earnings per share for the current fiscal year.

In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $52.91, for a total value of $821,374.84. Following the completion of the sale, the insider now owns 124,086 shares of the company’s stock, valued at $6,565,390.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the sale, the insider now directly owns 121,137 shares of the company’s stock, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,073 shares of company stock valued at $13,383,882. 0.43% of the stock is currently owned by insiders.

USB has been the subject of several research reports. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, October 12th. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Deutsche Bank lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. UBS Group set a $56.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Finally, Oppenheimer raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.61.

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U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: Different Types of Derivatives

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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