Merit Financial Group LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,097 shares of the financial services provider’s stock, valued at approximately $1,094,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EWG Elevate Inc. bought a new position in shares of U.S. Bancorp during the 4th quarter worth about $28,000. Mach 1 Financial Group LLC bought a new position in U.S. Bancorp during the 3rd quarter valued at about $26,000. Heritage Wealth Management LLC bought a new position in U.S. Bancorp during the 2nd quarter valued at about $37,000. Kistler Tiffany Companies LLC lifted its holdings in U.S. Bancorp by 334.0% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 868 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 668 shares during the last quarter. Finally, General Partner Inc. bought a new position in U.S. Bancorp during the 4th quarter valued at about $39,000. 71.83% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on USB shares. Keefe, Bruyette & Woods raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $58.00 in a report on Monday, December 12th. Robert W. Baird raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Monday. Oppenheimer dropped their target price on shares of U.S. Bancorp from $77.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday. UBS Group raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $55.00 in a research note on Tuesday, January 10th. Finally, Barclays raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $62.00 to $68.00 in a research note on Tuesday, January 3rd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.00.
U.S. Bancorp Stock Up 0.8 %
U.S. Bancorp (NYSE:USB – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $6.61 billion. U.S. Bancorp had a net margin of 21.26% and a return on equity of 16.13%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. Analysts expect that U.S. Bancorp will post 4.97 EPS for the current year.
U.S. Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Thursday, March 30th. U.S. Bancorp’s dividend payout ratio is currently 51.75%.
U.S. Bancorp Company Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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