Cornerstone Investment Partners LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,433,127 shares of the financial services provider’s stock after purchasing an additional 51,362 shares during the quarter. U.S. Bancorp comprises about 3.2% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 15th largest position. Cornerstone Investment Partners LLC owned about 0.09% of U.S. Bancorp worth $65,494,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in USB. Bank of New York Mellon Corp raised its stake in U.S. Bancorp by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock valued at $793,710,000 after purchasing an additional 2,071,326 shares in the last quarter. Morgan Stanley raised its stake in U.S. Bancorp by 32.7% during the third quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after purchasing an additional 1,358,026 shares in the last quarter. FIL Ltd raised its stake in U.S. Bancorp by 14.2% during the third quarter. FIL Ltd now owns 7,543,687 shares of the financial services provider’s stock valued at $398,382,000 after purchasing an additional 937,634 shares in the last quarter. Wells Fargo & Company MN raised its stake in U.S. Bancorp by 3.5% during the third quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock valued at $1,182,431,000 after purchasing an additional 750,796 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in U.S. Bancorp during the second quarter valued at $37,260,000. 75.18% of the stock is currently owned by institutional investors.
Shares of NYSE USB traded up $0.11 during mid-day trading on Friday, reaching $47.42. The company had a trading volume of 2,503,890 shares, compared to its average volume of 9,019,036. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. The stock has a market cap of $76.62 billion, a PE ratio of 13.87, a PEG ratio of 1.45 and a beta of 1.02. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $58.50.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, December 28th. U.S. Bancorp’s payout ratio is presently 43.27%.
In other news, Director David B. Omaley sold 10,902 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $53.66, for a total value of $585,001.32. Following the transaction, the director now directly owns 212,789 shares in the company, valued at $11,418,257.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman John R. Elmore sold 19,418 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $53.59, for a total transaction of $1,040,610.62. Following the completion of the transaction, the insider now owns 78,953 shares in the company, valued at $4,231,091.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,073 shares of company stock worth $13,383,882. Company insiders own 0.43% of the company’s stock.
USB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, October 12th. UBS Group set a $56.00 target price on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Monday, October 22nd. Wedbush set a $58.00 target price on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Thursday, October 18th. Finally, Deutsche Bank downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $58.91.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through 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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