U.S. Bancorp (USB) Stake Maintained by Headinvest LLC

Headinvest LLC maintained its position in U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,760 shares of the financial services provider’s stock at the end of the second quarter. Headinvest LLC’s holdings in U.S. Bancorp were worth $247,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of U.S. Bancorp by 1.2% in the first quarter. State Street Corp now owns 75,509,050 shares of the financial services provider’s stock valued at $3,888,995,000 after buying an additional 903,504 shares during the period. New England Asset Management Inc. increased its position in shares of U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after buying an additional 9,150,126 shares during the period. Norges Bank purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at about $736,819,000. First Eagle Investment Management LLC increased its position in shares of U.S. Bancorp by 1.3% in the first quarter. First Eagle Investment Management LLC now owns 11,507,504 shares of the financial services provider’s stock valued at $592,636,000 after buying an additional 152,202 shares during the period. Finally, Legal & General Group Plc increased its position in shares of U.S. Bancorp by 2.9% in the first quarter. Legal & General Group Plc now owns 8,251,609 shares of the financial services provider’s stock valued at $424,985,000 after buying an additional 231,478 shares during the period. 76.25% of the stock is owned by hedge funds and other institutional investors.

Shares of U.S. Bancorp (NYSE:USB) traded down 0.08% during midday trading on Friday, reaching $51.68. 5,299,712 shares of the company’s stock traded hands. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61. The stock’s 50 day moving average price is $52.47 and its 200 day moving average price is $52.55. The firm has a market capitalization of $86.45 billion, a P/E ratio of 15.61 and a beta of 0.86.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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Several equities analysts have recently issued reports on USB shares. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, July 20th. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $52.85.

U.S. Bancorp Company Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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

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