Teachers Advisors LLC Has $146.76 Million Stake in U.S. Bancorp (USB)
Teachers Advisors LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,849,635 shares of the financial services provider’s stock after purchasing an additional 129,460 shares during the quarter. Teachers Advisors LLC’s holdings in U.S. Bancorp were worth $146,756,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vivaldi Capital Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth $384,000. Homrich & Berg increased its stake in shares of U.S. Bancorp by 3.4% during the 1st quarter. Homrich & Berg now owns 26,941 shares of the financial services provider’s stock worth $1,387,000 after purchasing an additional 877 shares during the last quarter. Probity Advisors Inc. increased its stake in shares of U.S. Bancorp by 2.4% during the 1st quarter. Probity Advisors Inc. now owns 23,009 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 543 shares during the last quarter. Edge Asset Management Inc. increased its stake in shares of U.S. Bancorp by 20.7% during the 1st quarter. Edge Asset Management Inc. now owns 3,298,105 shares of the financial services provider’s stock worth $169,852,000 after purchasing an additional 564,799 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of U.S. Bancorp by 13.1% during the 1st quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 4,683 shares during the last quarter. Institutional investors own 74.21% of the company’s stock.
A number of research analysts recently issued reports on USB shares. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company started 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 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp has an average rating of “Hold” and an average target price of $52.85.
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U.S. Bancorp (USB) traded down 0.06% during mid-day trading on Wednesday, reaching $50.84. 1,366,025 shares of the company’s stock traded hands. The firm has a market cap of $85.04 billion, a PE ratio of 15.36 and a beta of 0.87. The firm has a 50 day moving average of $52.30 and a 200 day moving average of $52.34. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61. U.S. Bancorp also was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 11,451 put options on the stock. This represents an increase of 249% compared to the typical daily volume of 3,284 put options.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its board has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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