Opus Investment Management Inc. Increases Position in U.S. Bancorp (USB)
Opus Investment Management Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 285.7% during the 3rd quarter, Holdings Channel reports. The firm owned 24,300 shares of the financial services provider’s stock after acquiring an additional 18,000 shares during the period. Opus Investment Management Inc.’s holdings in U.S. Bancorp were worth $1,302,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Stelac Advisory Services LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at approximately $103,000. Horan Capital Advisors LLC. bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at approximately $112,000. Phocas Financial Corp. bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at approximately $109,000. San Francisco Sentry Investment Group CA grew its holdings in shares of U.S. Bancorp by 1,211.9% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,306 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 3,054 shares during the last quarter. Finally, Pathstone Family Office LLC grew its holdings in shares of 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 purchasing an additional 386 shares during the last quarter. 73.98% of the stock is currently owned by institutional investors.
USB has been the topic of a number of research reports. Piper Jaffray Companies raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 target price on the stock in a report on Friday, January 5th. Citigroup reissued a “neutral” rating and set a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Royal Bank of Canada boosted their target price on shares of U.S. Bancorp to $61.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Group reissued a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Thursday, October 12th. Finally, Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.82.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. equities research analysts forecast that U.S. Bancorp will post 3.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.13%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 34.19%.
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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