Migdal Insurance & Financial Holdings Ltd. Increases Stake in U.S. Bancorp (USB)

Migdal Insurance & Financial Holdings Ltd. lifted its position in U.S. Bancorp (NYSE:USB) by 37.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 916,840 shares of the financial services provider’s stock after acquiring an additional 252,010 shares during the period. U.S. Bancorp accounts for about 1.1% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 21st largest holding. Migdal Insurance & Financial Holdings Ltd. owned about 0.05% of U.S. Bancorp worth $47,859,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Hudock Capital Group LLC grew 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 worth $197,000 after buying an additional 17 shares during the last quarter. BSW Wealth Partners grew its stake in shares of U.S. Bancorp by 0.6% in the 2nd quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock worth $207,000 after buying an additional 22 shares during the last quarter. First National Bank of Hutchinson grew its stake in shares of U.S. Bancorp by 0.3% in the 2nd quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock worth $576,000 after buying an additional 32 shares during the last quarter. D. Scott Neal Inc. grew its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock worth $391,000 after buying an additional 36 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. boosted its stake in U.S. Bancorp by 0.5% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 39 shares during the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on the company. J P Morgan Chase & Co cut their target price on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Nomura increased their target price on U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Morgan Stanley increased their target price on U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. Finally, Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and an average price target of $54.20.

U.S. Bancorp (USB) traded down $0.25 during mid-day trading on Monday, hitting $54.90. The stock had a trading volume of 7,258,800 shares, compared to its average volume of 6,079,535. The stock has a market cap of $91,106.05, a P/E ratio of 16.29, a P/E/G ratio of 2.14 and a beta of 0.85. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $56.61. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. sell-side analysts expect that U.S. Bancorp will post 3.43 earnings per share for the current year.

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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.

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

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