Norden Group LLC Purchases 3,182 Shares of U.S. Bancorp (NYSE:USB)

Norden Group LLC boosted its position in U.S. Bancorp (NYSE:USBFree Report) by 20.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,945 shares of the financial services provider’s stock after acquiring an additional 3,182 shares during the quarter. Norden Group LLC’s holdings in U.S. Bancorp were worth $847,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Scotia Capital Inc. lifted its holdings in U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 990 shares during the period. Toroso Investments LLC lifted its holdings in U.S. Bancorp by 19.8% in the third quarter. Toroso Investments LLC now owns 42,289 shares of the financial services provider’s stock valued at $1,398,000 after buying an additional 7,002 shares during the period. Morgan Stanley lifted its holdings in U.S. Bancorp by 4.3% in the third quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock valued at $599,363,000 after buying an additional 751,865 shares during the period. Creative Planning raised its holdings in shares of U.S. Bancorp by 22.9% during the third quarter. Creative Planning now owns 837,191 shares of the financial services provider’s stock valued at $27,678,000 after purchasing an additional 156,010 shares during the period. Finally, Comerica Bank raised its holdings in shares of U.S. Bancorp by 8,557.6% during the third quarter. Comerica Bank now owns 537,028 shares of the financial services provider’s stock valued at $17,754,000 after purchasing an additional 530,825 shares during the period. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on USB. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price objective on shares of U.S. Bancorp in a report on Friday, June 21st. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. UBS Group dropped their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.84.

Get Our Latest Report on USB

U.S. Bancorp Stock Down 1.2 %

U.S. Bancorp stock opened at $39.04 on Monday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The firm has a 50 day moving average price of $40.18 and a 200-day moving average price of $41.53. The company has a market capitalization of $60.92 billion, a P/E ratio of 12.93, a P/E/G ratio of 3.76 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the firm earned $1.16 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that U.S. Bancorp will post 3.83 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

U.S. Bancorp Profile

(Free Report)

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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

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