Standard Life Investments LTD Lowers Stake in U.S. Bancorp (USB)
Standard Life Investments LTD lessened its holdings in U.S. Bancorp (NYSE:USB) by 15.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,939,306 shares of the financial services provider’s stock after selling 1,434,162 shares during the period. U.S. Bancorp comprises 1.4% of Standard Life Investments LTD’s holdings, making the stock its 19th biggest position. Standard Life Investments LTD owned 0.47% of U.S. Bancorp worth $412,328,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hudock Capital Group LLC lifted its position in U.S. Bancorp by 0.4% during 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 last quarter. BSW Wealth Partners lifted its position in U.S. Bancorp by 0.6% during the second quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 22 shares during the last quarter. First National Bank of Hutchinson lifted its position in U.S. Bancorp by 0.3% during the second quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 32 shares during the last quarter. D. Scott Neal Inc. lifted its position in U.S. Bancorp by 0.5% during the second quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 36 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. lifted its position in U.S. Bancorp by 0.5% during the second quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 39 shares during the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp (USB) opened at $51.68 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $85,646.33, a PE ratio of 15.31, a PEG ratio of 2.01 and a beta of 0.86. U.S. Bancorp has a 52 week low of $47.59 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The firm 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 period last year, the firm posted $0.84 earnings per share. research analysts anticipate 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 paid a $0.30 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.61%.
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USB has been the subject of a number of analyst reports. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, July 20th. Instinet cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $58.00 price target (up previously from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, October 6th. Finally, Bank of America Corporation cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $56.00 to $54.00 in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. The company currently 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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