WFA of San Diego LLC Buys Shares of 31,302 U.S. Bancorp (NYSE:USB)
WFA of San Diego LLC bought a new stake in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 31,302 shares of the financial services provider’s stock, valued at approximately $1,767,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Magellan Asset Management Ltd purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at about $27,000. Costello Asset Management INC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $37,000. RMR Wealth Builders purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $37,000. Bellevue Asset Management LLC boosted its stake in shares of U.S. Bancorp by 68.6% in the 1st quarter. Bellevue Asset Management LLC now owns 1,079 shares of the financial services provider’s stock valued at $38,000 after buying an additional 439 shares during the period. Finally, Ameritas Investment Company LLC boosted its stake in shares of U.S. Bancorp by 28.7% in the 1st quarter. Ameritas Investment Company LLC now owns 2,091 shares of the financial services provider’s stock valued at $71,000 after buying an additional 466 shares during the period. 73.22% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “buy” rating and set a $42.00 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Morgan Stanley decreased their target price on U.S. Bancorp from $43.00 to $41.00 and set an “underweight” rating for the company in a research note on Thursday, June 11th. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Deutsche Bank upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 28th. Finally, Zacks Investment Research upgraded U.S. Bancorp from a “strong sell” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.68.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.54 billion. U.S. Bancorp had a return on equity of 11.82% and a net margin of 19.70%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 2.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.40%. U.S. Bancorp’s dividend payout ratio is presently 38.71%.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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