Manning & Napier Advisors LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 258,881 shares of the financial services provider’s stock after buying an additional 5,113 shares during the quarter. Manning & Napier Advisors LLC’s holdings in U.S. Bancorp were worth $13,872,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Hudock Capital Group LLC raised its stake in 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. BSW Wealth Partners raised its stake in U.S. Bancorp by 0.6% in the second quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock valued at $207,000 after buying an additional 22 shares during the last quarter. First National Bank of Hutchinson raised its stake in U.S. Bancorp by 0.3% in 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 buying an additional 32 shares during the last quarter. D. Scott Neal Inc. raised its stake in U.S. Bancorp by 0.5% in the second quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after buying an additional 36 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. raised its stake in U.S. Bancorp by 0.5% in the second quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after buying an additional 39 shares during the last quarter. Institutional investors own 73.95% of the company’s stock.
A number of equities research analysts have commented on USB shares. Nomura increased their price target on U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Citigroup reissued a “neutral” rating and issued a $58.00 price objective (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.38.
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, hitting the consensus estimate of $0.88. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. U.S. Bancorp’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. sell-side analysts anticipate that U.S. Bancorp will post 3.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 35.71%.
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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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