U.S. Bancorp (USB) Position Reduced by Cortland Advisers LLC

Cortland Advisers LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,794 shares of the financial services provider’s stock after selling 31,469 shares during the period. U.S. Bancorp accounts for about 2.8% of Cortland Advisers LLC’s investment portfolio, making the stock its 19th largest holding. Cortland Advisers LLC’s holdings in U.S. Bancorp were worth $60,278,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stelac Advisory Services LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at $103,000. Horan Capital Advisors LLC. bought a new position in shares of U.S. Bancorp in the third quarter valued at $112,000. Phocas Financial Corp. bought a new position in shares of U.S. Bancorp in the second quarter valued at $109,000. Pathstone Family Office LLC increased its holdings 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 in the last quarter. Finally, Cadence Bank NA bought a new position in shares of U.S. Bancorp in the third quarter valued at $201,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp (NYSE:USB) opened at $56.98 on Friday. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $57.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $94,560.00, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. equities analysts anticipate that U.S. Bancorp will post 3.42 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s payout ratio is 35.71%.

USB has been the topic of several research reports. Jefferies Group reaffirmed a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a report on Thursday, October 12th. Vining Sparks reaffirmed a “buy” rating and issued a $64.00 price target on shares of U.S. Bancorp in a report on Monday, January 8th. Oppenheimer reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Zacks Investment Research raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, 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. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $56.22.

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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.

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

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