AQR Capital Management LLC raised its stake in U.S. Bancorp (NYSE:USB) by 43.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,046,052 shares of the financial services provider’s stock after buying an additional 924,292 shares during the period. AQR Capital Management LLC owned about 0.18% of U.S. Bancorp worth $156,476,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Norinchukin Bank The increased its position in shares of U.S. Bancorp by 8.5% in the third quarter. Norinchukin Bank The now owns 38,609 shares of the financial services provider’s stock valued at $1,656,000 after buying an additional 3,017 shares in the last quarter. Comerica Bank increased its stake in U.S. Bancorp by 2.4% in the fourth quarter. Comerica Bank now owns 511,067 shares of the financial services provider’s stock worth $26,417,000 after buying an additional 12,107 shares during the period. Principal Financial Group Inc. increased its stake in U.S. Bancorp by 1.7% in the third quarter. Principal Financial Group Inc. now owns 2,257,596 shares of the financial services provider’s stock worth $96,828,000 after buying an additional 37,186 shares during the period. Teacher Retirement System of Texas increased its stake in U.S. Bancorp by 54.2% in the third quarter. Teacher Retirement System of Texas now owns 355,455 shares of the financial services provider’s stock worth $15,245,000 after buying an additional 124,964 shares during the period. Finally, Middleton & Co Inc MA increased its stake in U.S. Bancorp by 7.4% in the third quarter. Middleton & Co Inc MA now owns 38,943 shares of the financial services provider’s stock worth $1,670,000 after buying an additional 2,696 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.34% during trading on Friday, hitting $50.51. 9,044,725 shares of the stock were exchanged. U.S. Bancorp has a 12-month low of $38.47 and a 12-month high of $56.61. The firm has a market capitalization of $85.57 billion, a PE ratio of 15.59 and a beta of 0.84. The stock has a 50 day moving average price of $52.72 and a 200-day moving average price of $50.44.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 19th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm earned $5.32 billion during the quarter, compared to the consensus estimate of $5.27 billion. U.S. Bancorp had a net margin of 25.89% and a return on equity of 13.88%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post $3.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.12 annualized dividend and a dividend yield of 2.22%. U.S. Bancorp’s payout ratio is 34.46%.
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A number of equities research analysts have weighed in on USB shares. Wedbush upped their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, January 19th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, January 18th. Morgan Stanley downgraded U.S. Bancorp from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 31st. Credit Suisse Group AG restated a “hold” rating and issued a $49.00 target price on shares of U.S. Bancorp in a research report on Wednesday, March 1st. Finally, Zacks Investment Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $48.64.
In other news, EVP Craig E. Gifford sold 7,548 shares of U.S. Bancorp stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $53.60, for a total value of $404,572.80. Following the completion of the transaction, the executive vice president now owns 37,869 shares in the company, valued at $2,029,778.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Omaley sold 11,757 shares of U.S. Bancorp stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $55.19, for a total transaction of $648,868.83. Following the completion of the transaction, the director now owns 241,682 shares of the company’s stock, valued at approximately $13,338,429.58. The disclosure for this sale can be found here. Insiders sold 1,237,326 shares of company stock valued at $65,066,997 in the last quarter. Corporate insiders own 0.68% of the company’s stock.
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.
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