Chartwell Investment Partners LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 47.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,785 shares of the financial services provider’s stock after purchasing an additional 36,283 shares during the period. Chartwell Investment Partners LLC’s holdings in U.S. Bancorp were worth $4,153,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in USB. Franklin Resources Inc. raised its stake in shares of U.S. Bancorp by 308.0% in the first quarter. Franklin Resources Inc. now owns 8,253,870 shares of the financial services provider’s stock worth $284,345,000 after buying an additional 6,230,902 shares during the period. Davis Selected Advisers increased its holdings in U.S. Bancorp by 56.3% in the 1st quarter. Davis Selected Advisers now owns 13,102,156 shares of the financial services provider’s stock worth $451,369,000 after acquiring an additional 4,717,407 shares in the last quarter. Maj Invest Holding A S bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $100,520,000. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in U.S. Bancorp by 51.2% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,295,962 shares of the financial services provider’s stock valued at $285,796,000 after purchasing an additional 2,807,919 shares in the last quarter. Finally, Coho Partners Ltd. boosted its position in shares of U.S. Bancorp by 1,232.6% in the second quarter. Coho Partners Ltd. now owns 2,598,171 shares of the financial services provider’s stock worth $95,665,000 after purchasing an additional 2,403,203 shares during the period. 73.54% of the stock is currently owned by institutional investors.
USB opened at $36.84 on Friday. The firm has a market cap of $55.49 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.42 and a beta of 1.16. U.S. Bancorp has a 12 month low of $28.36 and a 12 month high of $61.11. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $36.90 and a 200 day moving average of $40.57.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.54 billion. U.S. Bancorp had a return on equity of 11.82% and a net margin of 19.70%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. On average, research analysts forecast that U.S. Bancorp will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $1.68 dividend on an annualized basis and a yield of 4.56%. U.S. Bancorp’s dividend payout ratio is presently 38.71%.
USB has been the topic of a number of analyst reports. Credit Suisse Group lowered their target price on shares of U.S. Bancorp from $43.00 to $41.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $42.00 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. Barclays reissued a “buy” rating and set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 9th. Wolfe Research began coverage on U.S. Bancorp in a report on Friday. They issued an “outperform” rating on the stock. Finally, Oppenheimer increased their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus target price of $46.31.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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