U.S. Bancorp (USB) Position Trimmed by Chicago Equity Partners LLC
Chicago Equity Partners LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 84.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,645 shares of the financial services provider’s stock after selling 97,385 shares during the period. Chicago Equity Partners LLC’s holdings in U.S. Bancorp were worth $916,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $103,000. SRS Capital Advisors Inc. grew its holdings in U.S. Bancorp by 17.0% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 371 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in U.S. Bancorp by 30.4% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 681 shares in the last quarter. Hudock Capital Group LLC grew its holdings in U.S. Bancorp by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 17 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in U.S. Bancorp by 41.7% during the 1st quarter. Sunbelt Securities Inc. now owns 3,912 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,151 shares in the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.
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U.S. Bancorp (NYSE:USB) opened at 54.38 on Wednesday. The company has a market capitalization of $90.97 billion, a P/E ratio of 16.43 and a beta of 0.87. U.S. Bancorp has a 52-week low of $43.83 and a 52-week high of $56.61. The stock has a 50 day moving average of $53.59 and a 200-day moving average of $52.30.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, equities analysts forecast that U.S. Bancorp will post $3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is 35.61%.
USB has been the subject of a number of recent analyst reports. Nomura raised their price target on shares of U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Citigroup Inc. reaffirmed a “neutral” rating and set a $58.00 price target (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.06.
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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