Tocqueville Asset Management L.P. lessened its stake in U.S. Bancorp (NYSE:USB) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 560,779 shares of the financial services provider’s stock after selling 35,315 shares during the period. Tocqueville Asset Management L.P.’s holdings in U.S. Bancorp were worth $29,116,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. State Street Corp boosted its position in shares of U.S. Bancorp by 1.2% during the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after purchasing an additional 903,504 shares in the last quarter. New England Asset Management Inc. boosted its position in shares of U.S. Bancorp by 52.5% during the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares in the last quarter. US Bancorp DE boosted its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock valued at $735,074,000 after purchasing an additional 259,093 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of U.S. Bancorp by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,625,567 shares of the financial services provider’s stock valued at $603,599,000 after purchasing an additional 118,063 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of U.S. Bancorp by 2.9% during the 1st quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock valued at $424,985,000 after purchasing an additional 231,478 shares in the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s stock.
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Shares of U.S. Bancorp (NYSE USB) opened at 54.44 on Friday. U.S. Bancorp has a 52-week low of $43.83 and a 52-week high of $56.61. The stock has a market cap of $91.07 billion, a P/E ratio of 16.45 and a beta of 0.87. The firm’s 50-day moving average price is $53.38 and its 200-day moving average price is $52.23.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates 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%. U.S. Bancorp’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities analysts predict that U.S. Bancorp will post $3.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. U.S. Bancorp’s payout ratio is presently 35.61%.
Several research analysts have issued reports on the company. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Nomura increased their price target on U.S. Bancorp from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Morgan Stanley increased their price target on U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price 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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