Wedgewood Partners Inc. trimmed its stake in U.S. Bancorp (NYSE:USB) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,438 shares of the financial services provider’s stock after selling 4,925 shares during the period. U.S. Bancorp accounts for 0.1% of Wedgewood Partners Inc.’s portfolio, making the stock its 21st largest position. Wedgewood Partners Inc.’s holdings in U.S. Bancorp were worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtue Capital Management LLC purchased a new position in U.S. Bancorp during the 4th quarter worth $102,000. Meeder Asset Management Inc. purchased a new position in U.S. Bancorp during the 4th quarter worth $106,000. Delpha Capital Management LLC purchased a new position in U.S. Bancorp during the 4th quarter worth $109,000. James Hambro & Partners purchased a new position in U.S. Bancorp during the 4th quarter worth $110,000. Finally, Horan Capital Advisors LLC. purchased a new position in U.S. Bancorp during the 3rd quarter worth $112,000. 74.42% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on USB. Vining Sparks restated a “hold” rating and set a $61.00 target price on shares of U.S. Bancorp in a research note on Thursday, January 25th. Deutsche Bank upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $63.00 in a research note on Thursday, January 25th. Morgan Stanley boosted their target price on U.S. Bancorp from $60.00 to $61.00 and gave the stock an “underweight” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. downgraded U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 target price on the stock. in a research note on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.64.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. equities research analysts forecast that U.S. Bancorp will post 4.05 earnings per share for the current year.
In other news, Director David B. Omaley sold 10,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $55.60, for a total value of $556,000.00. Following the completion of the transaction, the director now owns 231,682 shares of the company’s stock, valued at approximately $12,881,519.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig E. Gifford sold 45,890 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total value of $2,540,011.50. The disclosure for this sale can be found here. In the last three months, insiders sold 168,016 shares of company stock valued at $9,356,775. Insiders own 0.43% of the company’s stock.
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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.
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