Addenda Capital Inc. Has $3.19 Million Holdings in U.S. Bancorp (USB)
Addenda Capital Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,149 shares of the financial services provider’s stock after selling 2,531 shares during the quarter. Addenda Capital Inc.’s holdings in U.S. Bancorp were worth $3,189,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Shelton Capital Management increased its position in shares of U.S. Bancorp by 51.2% in the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after acquiring an additional 45,116 shares during the period. Bank of Montreal Can increased its position in shares of U.S. Bancorp by 2.6% in the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock valued at $320,434,000 after acquiring an additional 159,319 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of U.S. Bancorp by 13.1% in the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock valued at $2,088,000 after acquiring an additional 4,683 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of U.S. Bancorp by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after acquiring an additional 73,504 shares during the period. Finally, New England Asset Management Inc. increased its position in shares of U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after acquiring an additional 9,150,126 shares during the period. Hedge funds and other institutional investors own 73.95% of the company’s stock.
Shares of U.S. Bancorp (USB) opened at 54.26 on Tuesday. The company’s 50-day moving average is $52.67 and its 200 day moving average is $52.05. The company has a market cap of $90.76 billion, a price-to-earnings ratio of 16.39 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.52 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. Equities analysts anticipate that U.S. Bancorp will post $3.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.30 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.21%. U.S. Bancorp’s dividend payout ratio (DPR) is 36.04%.
U.S. Bancorp declared that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to buyback $2.60 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
A number of research firms have issued reports on USB. Instinet cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird restated a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, October 6th. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $53.56.
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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