Ballentine Partners LLC Decreases Stake in U.S. Bancorp (USB)
Ballentine Partners LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 5.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,932 shares of the financial services provider’s stock after selling 925 shares during the period. Ballentine Partners LLC’s holdings in U.S. Bancorp were worth $729,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Hardy Reed LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $374,000. Icon Advisers Inc. Co. raised its stake in U.S. Bancorp by 19.2% during the fourth quarter. Icon Advisers Inc. Co. now owns 62,600 shares of the financial services provider’s stock worth $2,861,000 after purchasing an additional 10,100 shares during the period. Balasa Dinverno & Foltz LLC raised its stake in U.S. Bancorp by 32.2% during the fourth quarter. Balasa Dinverno & Foltz LLC now owns 8,678 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 2,115 shares during the period. M&T Bank Corp raised its stake in U.S. Bancorp by 42.6% during the fourth quarter. M&T Bank Corp now owns 1,175,407 shares of the financial services provider’s stock worth $53,715,000 after purchasing an additional 351,251 shares during the period. Finally, Baldwin Brothers Inc. MA raised its stake in U.S. Bancorp by 5.1% during the fourth quarter. Baldwin Brothers Inc. MA now owns 11,566 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 557 shares during the period. 75.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on USB shares. CIBC raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Nomura reduced their target price on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Barclays lifted their target price on shares of U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 2nd. UBS Group set a $56.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Finally, Wedbush set a $58.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.00.
Shares of USB stock opened at $50.91 on Thursday. The stock has a market cap of $81.74 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.55 and a beta of 1.08. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $56.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.64%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
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U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Further Reading: Quiet Period Expirations Explained
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