Brightworth Invests $5.53 Million in U.S. Bancorp (USB)
Brightworth purchased a new stake in U.S. Bancorp (NYSE:USB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 103,149 shares of the financial services provider’s stock, valued at approximately $5,528,000. U.S. Bancorp makes up 1.3% of Brightworth’s investment portfolio, making the stock its 21st largest holding.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after acquiring an additional 1,727,498 shares during the period. New England Asset Management Inc. grew its holdings in U.S. Bancorp by 52.5% during the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after acquiring an additional 9,150,126 shares during the period. Franklin Resources Inc. grew its holdings in U.S. Bancorp by 0.7% during the 2nd quarter. Franklin Resources Inc. now owns 16,019,884 shares of the financial services provider’s stock worth $831,753,000 after acquiring an additional 110,571 shares during the period. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 5,598.0% during the 2nd quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock worth $656,975,000 after acquiring an additional 12,431,466 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in U.S. Bancorp by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,625,567 shares of the financial services provider’s stock worth $603,599,000 after acquiring an additional 118,063 shares during the period. 73.95% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on USB. Bank of America lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $56.00 to $54.00 in a report on Monday, October 2nd. Oppenheimer reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Finally, UBS lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $54.56.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. research analysts anticipate that U.S. Bancorp will post 3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. U.S. Bancorp’s dividend payout ratio is 35.61%.
About U.S. Bancorp
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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