Fulton Bank N.A. lifted its stake in U.S. Bancorp (NYSE:USB) by 382.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,098 shares of the financial services provider’s stock after buying an additional 17,516 shares during the quarter. Fulton Bank N.A.’s holdings in U.S. Bancorp were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. raised its stake in U.S. Bancorp by 3.8% during the 4th quarter. Raymond James Trust N.A. now owns 77,939 shares of the financial services provider’s stock worth $3,631,000 after acquiring an additional 2,858 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of U.S. Bancorp by 93.6% during the 4th quarter. Kestra Advisory Services LLC now owns 131,197 shares of the financial services provider’s stock valued at $6,055,000 after buying an additional 63,419 shares in the last quarter. JustInvest LLC boosted its holdings in U.S. Bancorp by 14.8% in the 4th quarter. JustInvest LLC now owns 7,555 shares of the financial services provider’s stock worth $352,000 after buying an additional 972 shares during the period. Lord Abbett & CO. LLC increased its stake in U.S. Bancorp by 11.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,244,995 shares of the financial services provider’s stock worth $58,004,000 after buying an additional 130,258 shares in the last quarter. Finally, Fiduciary Trust Co. raised its holdings in U.S. Bancorp by 12.7% during the fourth quarter. Fiduciary Trust Co. now owns 303,612 shares of the financial services provider’s stock valued at $14,145,000 after acquiring an additional 34,234 shares during the period. 71.73% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on USB. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of U.S. Bancorp in a research report on Thursday, March 25th. Barclays raised their target price on shares of U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on U.S. Bancorp from $42.00 to $52.00 in a research report on Thursday, December 10th. Stephens boosted their target price on U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 30th. Finally, Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.28.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 19th. The financial services provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.80 billion. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. On average, research analysts predict that U.S. Bancorp will post 3.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, March 30th. U.S. Bancorp’s payout ratio is currently 38.71%.
U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 22nd that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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