Scotia Capital Inc. Reduces Position in U.S. Bancorp (USB)
Scotia Capital Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.5% in the 4th quarter, HoldingsChannel reports. The fund owned 33,162 shares of the financial services provider’s stock after selling 2,683 shares during the quarter. Scotia Capital Inc.’s holdings in U.S. Bancorp were worth $1,777,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oarsman Capital Inc. boosted its holdings in U.S. Bancorp by 4.5% in the 2nd quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 488 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in U.S. Bancorp by 7.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock valued at $10,954,000 after purchasing an additional 14,678 shares during the last quarter. Rockefeller Financial Services Inc. boosted its holdings in U.S. Bancorp by 57.1% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 32,886 shares of the financial services provider’s stock valued at $1,762,000 after purchasing an additional 11,950 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in U.S. Bancorp in the 2nd quarter valued at about $334,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in U.S. Bancorp by 32.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 420,868 shares of the financial services provider’s stock valued at $22,554,000 after purchasing an additional 103,768 shares during the last quarter. 73.52% of the stock is owned by institutional investors.
In other U.S. Bancorp news, Director David B. Omaley sold 10,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $55.60, for a total transaction of $556,000.00. Following the sale, the director now directly owns 231,682 shares in the company, valued at approximately $12,881,519.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig E. Gifford sold 45,890 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $55.35, for a total transaction of $2,540,011.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,016 shares of company stock worth $9,356,775. 0.39% of the stock is owned by company insiders.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. equities analysts predict that U.S. Bancorp will post 4.05 earnings per share for the current year.
USB has been the topic of several recent analyst reports. Deutsche Bank upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $63.00 in a report on Thursday, January 25th. Jefferies Group reiterated a “buy” rating and issued a $63.00 target price on shares of U.S. Bancorp in a report on Monday, January 8th. Piper Jaffray Companies upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective on the stock in a report on Friday, January 5th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Friday, February 2nd. Finally, Vining Sparks restated a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a report on Monday, January 8th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $58.64.
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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