U.S. Bancorp (USB) Position Boosted by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. raised its stake in U.S. Bancorp (NYSE:USB) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,541 shares of the financial services provider’s stock after acquiring an additional 4,683 shares during the period. Stratos Wealth Partners LTD.’s holdings in U.S. Bancorp were worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Alecta Pensionsforsakring Omsesidigt boosted its stake in U.S. Bancorp by 1,130.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock valued at $126,690,000 after acquiring an additional 2,260,000 shares in the last quarter. First Trust Advisors LP boosted its stake in U.S. Bancorp by 276.0% in the first quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock valued at $110,089,000 after acquiring an additional 1,569,154 shares in the last quarter. Karp Capital Management Corp acquired a new position in U.S. Bancorp in the first quarter valued at $60,650,000. Canada Pension Plan Investment Board boosted its stake in U.S. Bancorp by 209.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,452,520 shares of the financial services provider’s stock valued at $74,805,000 after acquiring an additional 983,500 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in U.S. Bancorp in the first quarter valued at $36,261,000. Institutional investors own 74.21% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.84% during midday trading on Monday, hitting $51.68. 3,656,465 shares of the stock traded hands. The stock has a market cap of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.87. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The firm has a 50-day moving average price of $52.32 and a 200 day moving average price of $52.43.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its board has initiated a share repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Several research firms have issued reports on USB. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective for the company. Finally, Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $52.85.
U.S. Bancorp 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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