Pax World Management LLC Increases Position in U.S. Bancorp (USB)
Pax World Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,164 shares of the financial services provider’s stock after acquiring an additional 809 shares during the period. Pax World Management LLC’s holdings in U.S. Bancorp were worth $11,795,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Waldron LP purchased a new stake in U.S. Bancorp during the first quarter valued at about $323,000. Rhumbline Advisers boosted its position in U.S. Bancorp by 2.6% during the first quarter. Rhumbline Advisers now owns 2,914,382 shares of the financial services provider’s stock valued at $150,091,000 after buying an additional 74,644 shares during the period. First Trust Advisors LP boosted its position in U.S. Bancorp by 276.0% during the first 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. Advisors Asset Management Inc. boosted its position in U.S. Bancorp by 36.4% during the first quarter. Advisors Asset Management Inc. now owns 52,742 shares of the financial services provider’s stock valued at $2,716,000 after buying an additional 14,086 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in U.S. Bancorp by 84.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 282,218 shares of the financial services provider’s stock valued at $14,877,000 after buying an additional 129,431 shares during the period. Institutional investors own 73.95% of the company’s stock.
Several analysts have issued reports on the stock. Jefferies Group LLC restated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, August 11th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $53.56.
U.S. Bancorp (NYSE USB) opened at 53.27 on Thursday. The company has a 50-day moving average of $52.82 and a 200-day moving average of $52.09. U.S. Bancorp has a 1-year low of $43.50 and a 1-year high of $56.61. The company has a market capitalization of $89.11 billion, a P/E ratio of 16.09 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Equities analysts expect that U.S. Bancorp will post $3.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.25%. This is a boost 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 36.04%.
U.S. Bancorp announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
U.S. Bancorp Company 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.
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.