Nicola Wealth Management LTD. grew its stake in shares of U.S. Bancorp (NYSE:USB) by 34.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,000 shares of the financial services provider’s stock after purchasing an additional 13,000 shares during the period. Nicola Wealth Management LTD.’s holdings in U.S. Bancorp were worth $2,551,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearwater Capital Advisors LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth about $100,000. Horan Capital Management purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $109,000. Well Done LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth about $117,000. Integrated Investment Consultants LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $135,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth about $141,000. 74.09% of the stock is owned by institutional investors and hedge funds.
Shares of USB stock opened at $53.29 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.83. U.S. Bancorp has a fifty-two week low of $48.49 and a fifty-two week high of $58.50. The stock has a market capitalization of $86.50 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.74 and a beta of 0.98.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. The business had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. equities research analysts expect that U.S. Bancorp will post 4.07 earnings per share for the current fiscal year.
USB has been the subject of several research analyst reports. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, May 11th. Finally, Susquehanna Bancshares set a $57.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, April 23rd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $58.58.
In other news, Vice Chairman John R. Elmore sold 58,924 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the transaction, the insider now owns 98,371 shares of the company’s stock, valued at approximately $5,086,764.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.43% 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. 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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