U.S. Bancorp (USB) is AKO Capital LLP’s 5th Largest Position
AKO Capital LLP raised its position in U.S. Bancorp (NYSE:USB) by 29.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,006,549 shares of the financial services provider’s stock after buying an additional 227,362 shares during the period. U.S. Bancorp comprises approximately 4.6% of AKO Capital LLP’s holdings, making the stock its 5th largest holding. AKO Capital LLP owned about 0.06% of U.S. Bancorp worth $52,260,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its position in shares of U.S. Bancorp by 1.2% in the 1st quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock worth $3,888,995,000 after purchasing an additional 903,504 shares during the last quarter. New England Asset Management Inc. boosted its position in shares of U.S. Bancorp by 52.5% in the 1st 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 last quarter. US Bancorp DE boosted its position in shares of U.S. Bancorp by 1.9% in the 2nd quarter. US Bancorp DE now owns 14,157,826 shares of the financial services provider’s stock worth $735,074,000 after purchasing an additional 259,093 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of U.S. Bancorp by 1.3% in the 1st quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock worth $592,636,000 after purchasing an additional 152,202 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of U.S. Bancorp by 2.9% in the 1st quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock worth $424,985,000 after purchasing an additional 231,478 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.
U.S. Bancorp (USB) opened at 53.15 on Thursday. The firm’s 50-day moving average price is $52.23 and its 200 day moving average price is $51.99. The company has a market capitalization of $88.91 billion, a price-to-earnings ratio of 16.06 and a beta of 0.87. U.S. Bancorp has a 12-month low of $42.37 and a 12-month 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, analysts expect that U.S. Bancorp will post $3.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio is 36.04%.
U.S. Bancorp declared that its board has initiated a share buyback program 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 reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently issued reports on USB. Wells Fargo & Company began coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target on the stock. Bank of America Corporation lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $56.00 to $54.00 in a research report on Monday. BidaskClub lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. Finally, Instinet lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $55.00 in a research report on Thursday, September 28th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.07.
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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