Riverhead Capital Management LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 30.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,702 shares of the financial services provider’s stock after selling 15,194 shares during the quarter. Riverhead Capital Management LLC’s holdings in U.S. Bancorp were worth $1,802,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in USB. New England Asset Management Inc. raised its position 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 buying an additional 9,150,126 shares during the last quarter. Principal Financial Group Inc. raised its position in U.S. Bancorp by 154.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock worth $303,034,000 after buying an additional 3,540,530 shares during the last quarter. AQR Capital Management LLC raised its position in U.S. Bancorp by 54.2% during the 1st quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after buying an additional 1,652,219 shares during the last quarter. American Century Companies Inc. raised its position in U.S. Bancorp by 20.9% during the 2nd quarter. American Century Companies Inc. now owns 9,184,921 shares of the financial services provider’s stock worth $476,881,000 after buying an additional 1,590,023 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in U.S. Bancorp by 85.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,695,720 shares of the financial services provider’s stock worth $139,962,000 after buying an additional 1,243,200 shares during the last quarter. Hedge funds and other institutional investors own 74.23% of the company’s stock.

USB has been the subject of a number of analyst reports. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Instinet downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $57.00 to $55.00 in a research report on Thursday, September 28th. Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, October 6th. Citigroup Inc. restated a “neutral” rating and set a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Finally, Bank of America Corporation downgraded shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $56.00 to $54.00 in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $53.82.

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Shares of U.S. Bancorp (USB) opened at $51.61 on Friday. The company has a market cap of $86,476.08, a PE ratio of 15.46, a P/E/G ratio of 2.03 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. The company has a quick ratio of 0.82, a current ratio of 0.83 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 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. The firm 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 firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. equities analysts anticipate that U.S. Bancorp will post 3.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.33%. 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 dividend 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.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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