Forsta AP Fonden Has $14.55 Million Position in U.S. Bancorp (NYSE:USB)

Forsta AP Fonden cut its position in U.S. Bancorp (NYSE:USBGet Rating) by 14.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,800 shares of the financial services provider’s stock after selling 44,700 shares during the period. Forsta AP Fonden’s holdings in U.S. Bancorp were worth $14,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Delos Wealth Advisors LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at about $29,000. Advocacy Wealth Management Services LLC boosted its position in U.S. Bancorp by 72.3% in the first quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock valued at $30,000 after buying an additional 240 shares in the last quarter. Westside Investment Management Inc. boosted its position in U.S. Bancorp by 45.6% in the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after buying an additional 203 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in U.S. Bancorp in the fourth quarter valued at about $36,000. Finally, Elmwood Wealth Management Inc. acquired a new position in U.S. Bancorp in the fourth quarter valued at about $38,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on USB. Oppenheimer set a $68.00 target price on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Bank of America boosted their target price on shares of U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, April 18th. Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $52.00 to $45.00 in a research note on Monday, July 11th. Citigroup boosted their target price on shares of U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Finally, Wolfe Research dropped their target price on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.47.

U.S. Bancorp Stock Up 0.7 %

Shares of NYSE:USB opened at $47.39 on Friday. U.S. Bancorp has a 52 week low of $43.74 and a 52 week high of $63.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75. The company has a market capitalization of $70.41 billion, a PE ratio of 10.89, a PEG ratio of 1.62 and a beta of 0.97. The company has a 50 day moving average price of $47.66 and a two-hundred day moving average price of $51.95.

U.S. Bancorp (NYSE:USBGet Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. Analysts forecast that U.S. Bancorp will post 4.48 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Wednesday, June 29th. U.S. Bancorp’s dividend payout ratio is presently 42.30%.

U.S. Bancorp Profile

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U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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

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