Marathon Asset Management LLP boosted its position in U.S. Bancorp (NYSE:USB) by 7.5% during the third quarter, Holdings Channel reports. The fund owned 2,981,019 shares of the financial services provider’s stock after purchasing an additional 208,341 shares during the quarter. U.S. Bancorp accounts for 2.0% of Marathon Asset Management LLP’s holdings, making the stock its 10th largest holding. Marathon Asset Management LLP’s holdings in U.S. Bancorp were worth $158,476,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. DnB Asset Management AS purchased a new position in U.S. Bancorp in the second quarter valued at about $9,962,000. IFM Investors Pty Ltd raised its position in U.S. Bancorp by 36.5% in the second quarter. IFM Investors Pty Ltd now owns 70,946 shares of the financial services provider’s stock valued at $3,549,000 after purchasing an additional 18,975 shares during the period. YHB Investment Advisors Inc. raised its position in U.S. Bancorp by 2.2% in the second quarter. YHB Investment Advisors Inc. now owns 108,414 shares of the financial services provider’s stock valued at $5,423,000 after purchasing an additional 2,367 shares during the period. Marshwinds Advisory Co. purchased a new position in U.S. Bancorp in the second quarter valued at about $310,000. Finally, Farmers Trust Co. purchased a new position in U.S. Bancorp in the second quarter valued at about $3,555,000. Hedge funds and other institutional investors own 74.42% of the company’s stock.
In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of U.S. Bancorp stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $52.91, for a total transaction of $821,374.84. Following the sale, the insider now directly owns 124,086 shares of the company’s stock, valued at $6,565,390.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of U.S. Bancorp stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total value of $889,581.48. Following the sale, the insider now directly owns 121,137 shares in the company, valued at $6,154,970.97. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.
Several research firms have commented on USB. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Citigroup lowered U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Friday, October 12th. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Finally, Oppenheimer raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.36.
Shares of NYSE USB opened at $52.07 on Monday. U.S. Bancorp has a 1 year low of $48.49 and a 1 year high of $58.50. The stock has a market cap of $84.82 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.84%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s payout ratio is presently 43.27%.
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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