New Mexico Educational Retirement Board Sells 14,200 Shares of U.S. Bancorp (USB)
New Mexico Educational Retirement Board cut its holdings in U.S. Bancorp (NYSE:USB) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,261 shares of the financial services provider’s stock after selling 14,200 shares during the period. New Mexico Educational Retirement Board’s holdings in U.S. Bancorp were worth $7,772,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Global X Management Co. LLC raised its position in U.S. Bancorp by 21.9% in the second quarter. Global X Management Co. LLC now owns 18,994 shares of the financial services provider’s stock worth $986,000 after acquiring an additional 3,412 shares during the period. HL Financial Services LLC raised its position in U.S. Bancorp by 1.0% in the second quarter. HL Financial Services LLC now owns 2,536,606 shares of the financial services provider’s stock worth $131,701,000 after acquiring an additional 24,805 shares during the period. Barrett Asset Management LLC raised its position in U.S. Bancorp by 1.0% in the second quarter. Barrett Asset Management LLC now owns 402,370 shares of the financial services provider’s stock worth $20,891,000 after acquiring an additional 4,150 shares during the period. Advisor Partners LLC raised its position in U.S. Bancorp by 31.3% in the second quarter. Advisor Partners LLC now owns 35,335 shares of the financial services provider’s stock worth $1,835,000 after acquiring an additional 8,417 shares during the period. Finally, British Airways Pensions Investment Management Ltd bought a new position in U.S. Bancorp in the second quarter worth approximately $12,765,000. Institutional investors and hedge funds own 73.97% of the company’s stock.
U.S. Bancorp (USB) opened at 54.18 on Friday. The stock has a market capitalization of $90.63 billion, a PE ratio of 16.37 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.37 and a 1-year high of $56.61. The company’s 50-day moving average is $52.33 and its 200 day moving average is $52.00.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during 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 firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. Equities analysts predict that U.S. Bancorp will post $3.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.21%. U.S. Bancorp’s dividend payout ratio is currently 36.04%.
U.S. Bancorp declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
Several research analysts have weighed in on USB shares. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, August 11th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.07.
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.
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.