Mn Services Vermogensbeheer B.V. Increases Position in U.S. Bancorp (USB)
Mn Services Vermogensbeheer B.V. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 517.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 279,955 shares of the financial services provider’s stock after acquiring an additional 234,626 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in U.S. Bancorp were worth $14,535,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in U.S. Bancorp by 17.0% during the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 371 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in U.S. Bancorp during the first quarter worth $155,000. Tradewinds Capital Management LLC increased its position in U.S. Bancorp by 87.4% during the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 1,708 shares during the period. Sunbelt Securities Inc. increased its position in U.S. Bancorp by 41.7% during the first quarter. Sunbelt Securities Inc. now owns 3,912 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 1,151 shares during the period. Finally, BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% during the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 23 shares during the period. 73.97% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on USB. Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Thursday. Instinet lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $57.00 to $55.00 in a report on Thursday. Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Tuesday, September 5th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $53.33.
U.S. Bancorp (NYSE USB) traded up 0.21% during midday trading on Friday, hitting $53.59. 7,211,926 shares of the stock traded hands. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The firm’s 50 day moving average is $52.00 and its 200-day moving average is $52.08. The stock has a market capitalization of $89.64 billion, a PE ratio of 16.19 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the business earned $0.82 earnings per share. U.S. Bancorp’s revenue was up .7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program 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 buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.
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.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Stock Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related stocks with our FREE daily email newsletter.