Pacer Advisors Inc. boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 10.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,376 shares of the financial services provider’s stock after acquiring an additional 3,885 shares during the quarter. Pacer Advisors Inc.’s holdings in U.S. Bancorp were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Stelac Advisory Services LLC purchased a new stake in U.S. Bancorp during the 2nd quarter valued at about $103,000. Phocas Financial Corp. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at about $109,000. Pathstone Family Office LLC boosted its holdings in U.S. Bancorp by 13.2% during the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 386 shares during the period. Hudock Capital Group LLC boosted its holdings in U.S. Bancorp by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 17 shares during the period. Finally, Cadence Bank NA purchased a new stake in U.S. Bancorp during the 3rd quarter valued at about $201,000. Institutional investors own 73.95% of the company’s stock.
Several equities research analysts have weighed in on USB shares. Nomura increased their price objective on U.S. Bancorp from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Citigroup reiterated a “neutral” rating and issued a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Finally, Jefferies Group reiterated a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.71.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Zacks’ 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 return on equity of 13.91% and a net margin of 25.46%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. analysts expect that U.S. Bancorp will post 3.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s payout ratio is presently 35.71%.
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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.
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