Oppenheimer & Co. Inc. Has $6.83 Million Position in U.S. Bancorp (USB)

Oppenheimer & Co. Inc. lessened its holdings in U.S. Bancorp (NYSE:USB) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,559 shares of the financial services provider’s stock after selling 8,892 shares during the period. Oppenheimer & Co. Inc.’s holdings in U.S. Bancorp were worth $6,831,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $103,000. SRS Capital Advisors Inc. lifted its stake in shares of U.S. Bancorp by 17.0% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 371 shares during the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of U.S. Bancorp by 30.4% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 681 shares during the last quarter. Hudock Capital Group LLC lifted its stake in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 17 shares during the last quarter. Finally, Opus Capital Group LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $202,000. 74.20% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. U.S. Bancorp’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS.

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.61%.

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USB has been the subject of several analyst reports. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Instinet lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $57.00 to $55.00 in a research report on Thursday, September 28th. Robert W. Baird reissued a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, October 6th. Finally, Bank of America Corporation lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $56.00 to $54.00 in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.82.

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.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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