Bedel Financial Consulting Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, HoldingsChannel reports. The fund acquired 11,927 shares of the financial services provider’s stock, valued at approximately $639,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $106,000. Phocas Financial Corp. purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $109,000. Horan Capital Advisors LLC. purchased a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $112,000. Cerebellum GP LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $123,000. Finally, Pathstone Family Office LLC raised its holdings in shares of U.S. Bancorp by 13.2% in 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 in the last quarter. 72.80% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on USB. Oppenheimer reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, January 17th. Barclays raised their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. cut U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price target on the stock. in a report on Wednesday, January 31st. Vining Sparks reaffirmed a “hold” rating and issued a $61.00 price target on shares of U.S. Bancorp in a report on Thursday, January 25th. Finally, Morgan Stanley raised their price target on U.S. Bancorp from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $58.13.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. research analysts anticipate that U.S. Bancorp will post 4.03 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.
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