U.S. Bancorp (USB) Shares Sold by Morningstar Investment Services LLC
Morningstar Investment Services LLC decreased its position in U.S. Bancorp (NYSE:USB) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,332 shares of the financial services provider’s stock after selling 2,176 shares during the period. Morningstar Investment Services LLC’s holdings in U.S. Bancorp were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund grew its position in shares of U.S. Bancorp by 4,346.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,619,515 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 7,448,158 shares during the period. Morgan Stanley grew its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after acquiring an additional 1,358,026 shares during the period. Geode Capital Management LLC grew its position in shares of U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after acquiring an additional 1,285,265 shares during the period. FIL Ltd grew its position in shares of U.S. Bancorp by 14.2% during the 3rd quarter. FIL Ltd now owns 7,543,687 shares of the financial services provider’s stock valued at $398,382,000 after acquiring an additional 937,634 shares during the period. Finally, Calamos Advisors LLC boosted its holdings in U.S. Bancorp by 256.7% in the 4th quarter. Calamos Advisors LLC now owns 1,219,527 shares of the financial services provider’s stock worth $55,732,000 after buying an additional 877,672 shares during the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.
USB has been the topic of several research analyst reports. Barclays lifted their price objective on U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, January 2nd. Standpoint Research cut U.S. Bancorp from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $54.16 to $63.00 in a report on Monday, November 26th. They noted that the move was a valuation call. Jefferies Financial Group cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a report on Monday, January 28th. Finally, Deutsche Bank cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.
Shares of U.S. Bancorp stock opened at $49.66 on Friday. The company has a market cap of $80.61 billion, a PE ratio of 12.11, a P/E/G ratio of 1.66 and a beta of 1.08. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $55.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.85 and a current ratio of 0.85.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.01. The business had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. As a group, analysts expect that U.S. Bancorp will post 4.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Thursday, March 28th. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
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About U.S. Bancorp
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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