U.S. Bancorp (USB) Position Maintained by Factory Mutual Insurance Co.
Factory Mutual Insurance Co. continued to hold its position in U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,393,400 shares of the financial services provider’s stock at the close of the 2nd quarter. Factory Mutual Insurance Co. owned 0.08% of U.S. Bancorp worth $72,345,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of USB. New England Asset Management Inc. boosted its holdings in shares of U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after purchasing an additional 9,150,126 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its holdings in shares of U.S. Bancorp by 1,130.0% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after purchasing an additional 2,260,000 shares during the period. AQR Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 54.2% during the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after purchasing an additional 1,652,219 shares during the period. First Trust Advisors LP boosted its holdings in shares of U.S. Bancorp by 276.0% during the first quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock worth $110,089,000 after purchasing an additional 1,569,154 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $60,650,000. Institutional investors own 73.97% of the company’s stock.
USB has been the subject of a number of analyst reports. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Robert W. Baird reiterated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $52.50.
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Shares of U.S. Bancorp (NYSE:USB) traded up 0.95% during trading on Monday, hitting $52.30. 1,688,569 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $52.00 and a 200-day moving average price of $52.17. The stock has a market cap of $87.49 billion, a P/E ratio of 15.80 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.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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 prior year, the business posted $0.82 EPS. U.S. Bancorp’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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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