Wesbanco Bank Inc. decreased its stake in U.S. Bancorp (NYSE:USB) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,262 shares of the financial services provider’s stock after selling 6,787 shares during the period. Wesbanco Bank Inc.’s holdings in U.S. Bancorp were worth $10,892,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Shelton Capital Management raised its position in U.S. Bancorp by 51.2% in the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after acquiring an additional 45,116 shares during the period. Twin Tree Management LP increased its stake in shares of U.S. Bancorp by 63.2% in the second quarter. Twin Tree Management LP now owns 34,326 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 13,295 shares in the last quarter. Oarsman Capital Inc. increased its stake in shares of U.S. Bancorp by 4.5% in the second quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 488 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of U.S. Bancorp by 16.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 52,380 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of U.S. Bancorp by 7.5% in the second quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock worth $10,954,000 after purchasing an additional 14,678 shares in the last quarter. 73.95% of the stock is currently owned by institutional investors and hedge funds.
USB has been the subject of several recent research reports. Nomura lifted their target price on shares of U.S. Bancorp from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Citigroup reiterated a “neutral” rating and issued a $58.00 target price (up previously from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Robert W. Baird reiterated a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.73.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the consensus estimate 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 revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. equities analysts forecast that U.S. Bancorp will post 3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.20 annualized dividend and a yield of 2.22%. U.S. Bancorp’s dividend payout ratio is currently 35.61%.
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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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