1834 Investment Advisors Co. Acquires New Holdings in U.S. Bancorp $USB

1834 Investment Advisors Co. bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, Holdings Channel.com reports. The institutional investor bought 17,686 shares of the financial services provider’s stock, valued at approximately $855,000.

A number of other large investors have also made changes to their positions in the business. IMG Wealth Management Inc. acquired a new stake in U.S. Bancorp in the 2nd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. purchased a new position in U.S. Bancorp in the second quarter valued at $27,000. Pineridge Advisors LLC raised its holdings in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 522 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 1.2%

Shares of U.S. Bancorp stock opened at $55.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s 50-day simple moving average is $52.57 and its 200-day simple moving average is $49.10. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.70. The firm has a market cap of $86.27 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.7%. U.S. Bancorp’s payout ratio is 45.02%.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. HSBC restated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Oppenheimer increased their price target on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Evercore ISI set a $60.00 price target on shares of U.S. Bancorp in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.19.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.