Veriti Management LLC Has $1.21 Million Stake in U.S. Bancorp (NYSE:USB)

Veriti Management LLC grew its position in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 12.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,758 shares of the financial services provider’s stock after acquiring an additional 2,543 shares during the period. Veriti Management LLC’s holdings in U.S. Bancorp were worth $1,210,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Beacon Financial Group lifted its holdings in U.S. Bancorp by 3.8% in the 1st quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 407 shares during the last quarter. DNB Asset Management AS lifted its holdings in U.S. Bancorp by 11.6% in the 1st quarter. DNB Asset Management AS now owns 329,048 shares of the financial services provider’s stock worth $17,489,000 after purchasing an additional 34,169 shares during the last quarter. California State Teachers Retirement System lifted its holdings in U.S. Bancorp by 4.3% in the 4th quarter. California State Teachers Retirement System now owns 2,586,434 shares of the financial services provider’s stock worth $145,280,000 after purchasing an additional 107,591 shares during the last quarter. Paradigm Financial Partners LLC bought a new position in U.S. Bancorp in the 4th quarter worth approximately $1,181,000. Finally, Carnegie Capital Asset Management LLC increased its position in U.S. Bancorp by 6.7% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 297,008 shares of the financial services provider’s stock worth $16,683,000 after buying an additional 18,711 shares during the period. Institutional investors and hedge funds own 74.92% of the company’s stock.

Shares of USB stock opened at $46.50 on Thursday. The stock’s fifty day simple moving average is $49.94 and its 200 day simple moving average is $54.43. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.75 and a quick ratio of 0.74. The firm has a market cap of $69.09 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.58 and a beta of 0.98. U.S. Bancorp has a one year low of $44.79 and a one year high of $63.57.

U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.93 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.55 billion. U.S. Bancorp had a return on equity of 15.24% and a net margin of 30.41%. U.S. Bancorp’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, June 29th. U.S. Bancorp’s dividend payout ratio is currently 39.66%.

USB has been the topic of several recent analyst reports. Oppenheimer lifted their price target on U.S. Bancorp from $67.00 to $72.00 in a research report on Tuesday, May 3rd. StockNews.com initiated coverage on U.S. Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Monday, April 11th. Bank of America lifted their price target on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, April 18th. Finally, Morgan Stanley lowered their price objective on U.S. Bancorp from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.77.

About U.S. Bancorp (Get Rating)

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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