Los Angeles Capital Management & Equity Research Inc. Sells 7,610 Shares of U.S. Bancorp (USB)
Los Angeles Capital Management & Equity Research Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,519 shares of the financial services provider’s stock after selling 7,610 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in U.S. Bancorp were worth $3,506,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $103,000. SRS Capital Advisors Inc. grew its holdings in shares of U.S. Bancorp by 17.0% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 371 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in shares of U.S. Bancorp by 30.4% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 681 shares in the last quarter. Hudock Capital Group LLC grew its holdings in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 17 shares in the last quarter. Finally, Opus Capital Group LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $202,000. 74.20% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on USB shares. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, August 11th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, July 20th. Robert W. Baird restated a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, October 6th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, BidaskClub cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $53.82.
Shares of U.S. Bancorp (NYSE:USB) opened at $54.65 on Monday. U.S. Bancorp has a 1-year low of $43.83 and a 1-year high of $56.61. The stock has a market capitalization of $91,101.55, a P/E ratio of 16.22, a PEG ratio of 2.13 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. equities research analysts expect that U.S. Bancorp will post 3.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s payout ratio is presently 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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