Darrell & King LLC Has $335,000 Stake in U.S. Bancorp (USB)
Darrell & King LLC continued to hold its stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,455 shares of the financial services provider’s stock at the end of the second quarter. Darrell & King LLC’s holdings in U.S. Bancorp were worth $335,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in USB. New England Asset Management Inc. grew its holdings in shares of U.S. Bancorp by 52.5% in the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after buying an additional 9,150,126 shares during the period. Alecta Pensionsforsakring Omsesidigt grew its holdings in shares of U.S. Bancorp by 1,130.0% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock valued at $126,690,000 after buying an additional 2,260,000 shares during the period. AQR Capital Management LLC grew its holdings in shares of U.S. Bancorp by 54.2% in the 1st quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock valued at $241,961,000 after buying an additional 1,652,219 shares during the period. First Trust Advisors LP grew its holdings in shares of U.S. Bancorp by 276.0% in the 1st quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock valued at $110,089,000 after buying an additional 1,569,154 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of U.S. Bancorp by 85.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,695,720 shares of the financial services provider’s stock valued at $139,962,000 after buying an additional 1,243,200 shares during the period. 73.97% of the stock is owned by institutional investors.
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U.S. Bancorp (USB) opened at 54.13 on Monday. U.S. Bancorp has a 12 month low of $42.52 and a 12 month high of $56.61. The firm’s 50 day moving average is $52.67 and its 200-day moving average is $52.05. The firm has a market cap of $90.55 billion, a price-to-earnings ratio of 16.35 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post $3.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.30 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.
U.S. Bancorp declared that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
USB has been the subject of several research analyst reports. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $53.56.
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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