Morningstar Investment Services LLC Has $1.87 Million Stock Position in U.S. Bancorp (NYSE:USB)
Morningstar Investment Services LLC lifted its position in U.S. Bancorp (NYSE:USB) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,642 shares of the financial services provider’s stock after buying an additional 1,350 shares during the period. Morningstar Investment Services LLC’s holdings in U.S. Bancorp were worth $1,868,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Adams Diversified Equity Fund Inc. increased its position in shares of U.S. Bancorp by 8.1% in the second quarter. Adams Diversified Equity Fund Inc. now owns 483,000 shares of the financial services provider’s stock worth $25,309,000 after purchasing an additional 36,000 shares during the period. FTB Advisors Inc. grew its stake in shares of U.S. Bancorp by 34.8% during the second quarter. FTB Advisors Inc. now owns 5,251 shares of the financial services provider’s stock worth $274,000 after buying an additional 1,356 shares during the last quarter. Investment Management of Virginia LLC increased its holdings in shares of U.S. Bancorp by 0.9% during the first quarter. Investment Management of Virginia LLC now owns 40,597 shares of the financial services provider’s stock worth $1,956,000 after buying an additional 357 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of U.S. Bancorp by 1.4% during the first quarter. Rehmann Capital Advisory Group now owns 27,436 shares of the financial services provider’s stock worth $1,322,000 after buying an additional 373 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of U.S. Bancorp by 2.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 227 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Wedbush boosted their price objective on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research report on Thursday, August 1st. Deutsche Bank set a $59.00 price target on U.S. Bancorp and gave the company a “hold” rating in a research note on Friday, July 26th. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $49.00 to $55.00 in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $52.50 to $57.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $56.92.
Shares of USB traded down $0.10 during trading hours on Wednesday, reaching $55.76. 229,881 shares of the stock traded hands, compared to its average volume of 4,541,142. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $57.81. The company has a market cap of $86.53 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.82 and a beta of 1.10. The stock has a fifty day simple moving average of $53.55 and a 200 day simple moving average of $52.11. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. Analysts predict that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.
U.S. Bancorp declared that its board has approved a share buyback program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Featured Story: What is total return in investing?
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.