DekaBank Deutsche Girozentrale raised its position in shares of U.S. Bancorp (NYSE:USB) by 143.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 594,590 shares of the financial services provider’s stock after acquiring an additional 350,525 shares during the period. DekaBank Deutsche Girozentrale’s holdings in U.S. Bancorp were worth $27,414,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of USB. Wealth Alliance bought a new stake in shares of U.S. Bancorp during the third quarter worth approximately $204,000. Engineers Gate Manager LP raised its position in shares of U.S. Bancorp by 112.1% in the third quarter. Engineers Gate Manager LP now owns 24,647 shares of the financial services provider’s stock valued at $884,000 after buying an additional 13,027 shares in the last quarter. Polar Capital LLP raised its position in shares of U.S. Bancorp by 7.5% in the third quarter. Polar Capital LLP now owns 92,447 shares of the financial services provider’s stock valued at $3,314,000 after buying an additional 6,466 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $2,378,000. Finally, Chartwell Investment Partners LLC raised its position in shares of U.S. Bancorp by 23.7% in the third quarter. Chartwell Investment Partners LLC now owns 139,499 shares of the financial services provider’s stock valued at $5,001,000 after buying an additional 26,714 shares in the last quarter. Institutional investors own 71.73% of the company’s stock.
Shares of U.S. Bancorp stock opened at $56.81 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a twelve month low of $28.36 and a twelve month high of $57.02. The stock has a market cap of $85.36 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.26 and a beta of 1.09. The company’s fifty day moving average is $53.30 and its 200 day moving average is $45.75.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a yield of 2.96%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 38.71%.
U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Tuesday, December 22nd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group lifted their price target on shares of U.S. Bancorp from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, March 31st. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Thursday, December 17th. Barclays boosted their price objective on shares of U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of U.S. Bancorp from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 1st. Finally, Morgan Stanley boosted their price objective on shares of U.S. Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, March 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. U.S. Bancorp presently has an average rating of “Buy” and an average price target of $53.28.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services 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. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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