Alpha Cubed Investments LLC grew its stake in U.S. Bancorp (NYSE:USB) by 20.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,689 shares of the financial services provider’s stock after purchasing an additional 1,661 shares during the quarter. Alpha Cubed Investments LLC’s holdings in U.S. Bancorp were worth $509,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Horan Capital Management purchased a new position in shares of U.S. Bancorp in the second quarter worth about $109,000. Integrated Investment Consultants LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $135,000. Mount Yale Investment Advisors LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth about $141,000. Field & Main Bank lifted its stake in shares of U.S. Bancorp by 49.9% in the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,000 shares in the last quarter. Finally, NEXT Financial Group Inc purchased a new position in shares of U.S. Bancorp in the third quarter worth about $181,000. Institutional investors and hedge funds own 74.48% of the company’s stock.
Several equities analysts have recently weighed in on USB shares. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. CIBC raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Finally, Nomura reduced their target price on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $59.36.
Shares of USB stock opened at $50.91 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50. The stock has a market cap of $83.78 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.67 and a beta of 0.98.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s payout ratio is 43.27%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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