AMF Pensionsforsakring AB Continues to Hold Position in U.S. Bancorp (USB)
AMF Pensionsforsakring AB maintained its stake in U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 987,027 shares of the financial services provider’s stock at the end of the second quarter. AMF Pensionsforsakring AB owned 0.06% of U.S. Bancorp worth $50,832,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in USB. SRS Capital Advisors Inc. raised its stake in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares in the last quarter. Orrstown Financial Services Inc. raised its stake in U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after buying an additional 681 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $155,000. WealthTrust Arizona LLC raised its stake in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares in the last quarter. Finally, American National Bank acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $167,000. Institutional investors and hedge funds own 76.25% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.08% during trading on Friday, reaching $51.68. 5,299,712 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $52.47 and its 200-day moving average price is $52.54. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The stock has a market capitalization of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. U.S. Bancorp’s revenue was up .7% compared to the same quarter last year. On average, equities analysts expect that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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USB has been the topic of several research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, August 11th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company downgraded shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.85.
U.S. Bancorp Company Profile
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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