U.S. Bancorp (USB) Position Lowered by Lord Abbett & CO. LLC

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Lord Abbett & CO. LLC trimmed its stake in U.S. Bancorp (NYSE:USB) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,381,600 shares of the financial services provider’s stock after selling 155,800 shares during the period. Lord Abbett & CO. LLC owned approximately 0.15% of U.S. Bancorp worth $120,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in U.S. Bancorp by 1.1% during the 1st quarter. BlackRock Inc. now owns 109,461,452 shares of the financial services provider’s stock worth $5,527,802,000 after purchasing an additional 1,191,374 shares during the last quarter. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 16,086,890 shares of the financial services provider’s stock worth $860,040,000 after purchasing an additional 287,089 shares during the last quarter. US Bancorp DE grew its position in U.S. Bancorp by 0.9% during the 1st quarter. US Bancorp DE now owns 13,660,710 shares of the financial services provider’s stock worth $689,865,000 after purchasing an additional 116,418 shares during the last quarter. American Century Companies Inc. grew its position in U.S. Bancorp by 5.4% during the 1st quarter. American Century Companies Inc. now owns 10,033,999 shares of the financial services provider’s stock worth $506,717,000 after purchasing an additional 512,215 shares during the last quarter. Finally, Fiera Capital Corp grew its position in U.S. Bancorp by 2.1% during the 1st quarter. Fiera Capital Corp now owns 8,390,536 shares of the financial services provider’s stock worth $423,722,000 after purchasing an additional 172,536 shares during the last quarter. 73.32% of the stock is currently owned by hedge funds and other institutional investors.

USB stock opened at $50.76 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50. The firm has a market capitalization of $83.75 billion, a PE ratio of 14.84, a PEG ratio of 1.69 and a beta of 0.93.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 18th. The financial services provider reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.01. U.S. Bancorp had a net margin of 26.39% and a return on equity of 14.20%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. research analysts expect that U.S. Bancorp will post 4.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 35.09%.

USB has been the topic of several research reports. Vining Sparks reissued a “buy” rating and set a $61.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 6th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, May 11th. Susquehanna Bancshares set a $57.00 price objective on shares of U.S. Bancorp and gave the stock a “hold” rating in a research report on Monday, April 23rd. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $56.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 5th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $58.38.

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.

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

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