Martingale Asset Management L P Lowers Holdings in U.S. Bancorp (USB)
Martingale Asset Management L P lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 724,229 shares of the financial services provider’s stock after selling 75,323 shares during the quarter. Martingale Asset Management L P’s holdings in U.S. Bancorp were worth $37,603,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Stelac Advisory Services LLC bought a new position in U.S. Bancorp during the second quarter valued at $103,000. SRS Capital Advisors Inc. raised its stake in shares of U.S. Bancorp by 17.0% in the first 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 during the period. Orrstown Financial Services Inc. raised its stake in shares of U.S. Bancorp by 30.4% in the second 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 during the period. Hudock Capital Group LLC raised its stake in shares of U.S. Bancorp by 0.4% in the second 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 during the period. Finally, Carroll Financial Associates Inc. raised its stake in shares of U.S. Bancorp by 16.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,905 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 555 shares during the period. Institutional investors and hedge funds own 74.23% of the company’s stock.
U.S. Bancorp (USB) opened at $51.61 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. The company has a market cap of $86,340.00, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. U.S. Bancorp has a 12-month low of $47.43 and a 12-month high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting analysts’ consensus estimates of $0.88. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. equities research analysts expect that U.S. Bancorp will post 3.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.30 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. U.S. Bancorp’s dividend payout ratio (DPR) is 35.71%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. J P Morgan Chase & Co reduced their target price on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Jefferies Group LLC reissued a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, October 6th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $58.00 target price (up previously from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.82.
U.S. Bancorp Profile
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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