WFG Advisors LP Boosts Position in U.S. Bancorp (USB)
WFG Advisors LP increased its position in shares of U.S. Bancorp (NYSE:USB) by 175.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,320 shares of the financial services provider’s stock after buying an additional 9,128 shares during the quarter. WFG Advisors LP’s holdings in U.S. Bancorp were worth $743,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of USB. Stelac Advisory Services LLC bought a new position in U.S. Bancorp in the second quarter valued at approximately $103,000. Pathstone Family Office LLC lifted its position in shares of U.S. Bancorp by 13.2% in the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the last quarter. Hudock Capital Group LLC lifted its position 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 buying an additional 17 shares during the last quarter. Opus Capital Group LLC acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $202,000. Finally, Carroll Financial Associates Inc. lifted its position 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 buying an additional 555 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
USB has been the subject of a number of recent analyst reports. Nomura raised their price objective on U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Citigroup reaffirmed a “neutral” rating and issued a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.20.
U.S. Bancorp (NYSE:USB) last released 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 business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 EPS. equities research analysts predict that U.S. Bancorp will post 3.43 earnings per share for the current fiscal year.
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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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