EFG Asset Management Americas Corp. Purchases New Position in U.S. Bancorp (NYSE:USB)

EFG Asset Management Americas Corp. purchased a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,627 shares of the financial services provider’s stock, valued at approximately $367,000.

A number of other hedge funds also recently made changes to their positions in USB. Putnam FL Investment Management Co. grew its holdings in U.S. Bancorp by 132.5% in the third quarter. Putnam FL Investment Management Co. now owns 23,818 shares of the financial services provider’s stock valued at $1,318,000 after purchasing an additional 13,574 shares during the period. BBVA USA Bancshares Inc. grew its holdings in U.S. Bancorp by 64.1% in the third quarter. BBVA USA Bancshares Inc. now owns 117,321 shares of the financial services provider’s stock valued at $6,492,000 after purchasing an additional 45,810 shares during the period. Griffin Asset Management Inc. grew its holdings in U.S. Bancorp by 7.7% in the third quarter. Griffin Asset Management Inc. now owns 70,430 shares of the financial services provider’s stock valued at $3,898,000 after purchasing an additional 5,045 shares during the period. Ropes Wealth Advisors LLC grew its holdings in U.S. Bancorp by 8.5% in the third quarter. Ropes Wealth Advisors LLC now owns 22,322 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 1,743 shares during the period. Finally, Investment Management of Virginia LLC grew its holdings in U.S. Bancorp by 1.4% in the third quarter. Investment Management of Virginia LLC now owns 41,494 shares of the financial services provider’s stock valued at $2,296,000 after purchasing an additional 585 shares during the period. Institutional investors own 75.48% of the company’s stock.

Several analysts have commented on USB shares. Piper Jaffray Companies set a $59.00 price objective on U.S. Bancorp and gave the company a “buy” rating in a report on Friday, September 13th. Bank of America lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $55.00 to $53.00 in a report on Monday, September 30th. Citigroup lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $54.00 to $49.00 in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $55.50 to $58.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $56.67.

Shares of NYSE:USB traded up $0.17 during trading on Wednesday, reaching $58.65. The stock had a trading volume of 248,123 shares, compared to its average volume of 5,739,747. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.83. The business has a fifty day moving average price of $55.76 and a 200-day moving average price of $53.75. The stock has a market cap of $92.82 billion, a PE ratio of 14.30, a PEG ratio of 2.27 and a beta of 1.11. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $59.71.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.04. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.81 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 4.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.42 dividend. The ex-dividend date was Friday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. U.S. Bancorp’s payout ratio is currently 40.98%.

In other news, Director David B. Omaley sold 10,133 shares of U.S. Bancorp stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the sale, the director now directly owns 191,754 shares of the company’s stock, valued at $10,692,203.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gillern Jeffry H. Von sold 5,357 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total value of $303,581.19. Following the completion of the sale, the insider now directly owns 89,301 shares in the company, valued at $5,060,687.67. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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