Teachers Insurance & Annuity Association of America continued to hold its stake in U.S. Bancorp (NYSE:USB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,200 shares of the financial services provider’s stock at the end of the first quarter. Teachers Insurance & Annuity Association of America’s holdings in U.S. Bancorp were worth $9,898,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Hudock Capital Group LLC boosted its stake in U.S. Bancorp by 0.4% in the 1st quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 16 shares in the last quarter. D. Scott Neal Inc. lifted its stake in U.S. Bancorp by 0.5% during the 1st quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 36 shares during the period. Smith Moore & CO. lifted its stake in U.S. Bancorp by 0.4% during the 1st quarter. Smith Moore & CO. now owns 13,586 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 51 shares during the period. Sandy Spring Bank lifted its stake in U.S. Bancorp by 0.7% during the 1st quarter. Sandy Spring Bank now owns 7,674 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 51 shares during the period. Finally, Dumont & Blake Investment Advisors LLC lifted its stake in U.S. Bancorp by 0.3% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 23,528 shares of the financial services provider’s stock valued at $1,212,000 after acquiring an additional 70 shares during the period. 74.21% of the stock is currently owned by hedge funds and other institutional investors.
USB has been the subject of several analyst reports. BidaskClub cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, July 20th. Robert W. Baird reissued a “hold” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Tuesday, September 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.50.
U.S. Bancorp (USB) traded up 0.24% during mid-day trading on Friday, reaching $49.98. The company’s stock had a trading volume of 6,052,039 shares. The firm has a 50-day moving average of $52.14 and a 200 day moving average of $52.30. The firm has a market capitalization of $83.61 billion, a price-to-earnings ratio of 15.10 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is 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.
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