Cape ANN Savings Bank purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,239 shares of the financial services provider’s stock, valued at approximately $227,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Pinnacle Financial Partners Inc. raised its stake in U.S. Bancorp by 36.3% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 100,013 shares of the financial services provider’s stock worth $5,358,000 after buying an additional 26,616 shares during the period. Cetera Advisor Networks LLC raised its stake in U.S. Bancorp by 6.7% during the 4th quarter. Cetera Advisor Networks LLC now owns 27,876 shares of the financial services provider’s stock worth $1,492,000 after buying an additional 1,739 shares during the period. Barings LLC raised its stake in U.S. Bancorp by 44.5% during the 4th quarter. Barings LLC now owns 17,221 shares of the financial services provider’s stock worth $923,000 after buying an additional 5,300 shares during the period. New Mexico Educational Retirement Board raised its stake in U.S. Bancorp by 3.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 152,761 shares of the financial services provider’s stock worth $8,185,000 after buying an additional 5,500 shares during the period. Finally, Carnick & Kubik Group LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $5,942,000. 72.80% of the stock is currently owned by institutional investors and hedge funds.
USB has been the subject of a number of recent research reports. Jefferies Group reissued a “buy” rating and set a $63.00 price objective on shares of U.S. Bancorp in a report on Monday, January 8th. Vining Sparks reissued a “buy” rating and set a $64.00 price objective on shares of U.S. Bancorp in a report on Monday, January 8th. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Friday, February 2nd. Deutsche Bank raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $63.00 in a report on Thursday, January 25th. Finally, Oppenheimer reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.13.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. analysts anticipate that U.S. Bancorp will post 4.05 EPS for the current year.
In other news, Vice Chairman P.W. Parker sold 98,485 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.95, for a total value of $5,510,235.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.39% of the company’s stock.
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About U.S. Bancorp
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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