New Century Financial Group LLC Reduces Holdings in U.S. Bancorp (NYSE:USB)

New Century Financial Group LLC reduced its position in U.S. Bancorp (NYSE:USB) by 13.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,281 shares of the financial services provider’s stock after selling 1,313 shares during the period. New Century Financial Group LLC’s holdings in U.S. Bancorp were worth $405,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in U.S. Bancorp in the second quarter valued at approximately $86,000. AXA S.A. raised its position in U.S. Bancorp by 79.2% in the 2nd quarter. AXA S.A. now owns 90,862 shares of the financial services provider’s stock valued at $3,607,000 after purchasing an additional 40,147 shares during the last quarter. AQR Capital Management LLC boosted its stake in U.S. Bancorp by 414.4% during the 2nd quarter. AQR Capital Management LLC now owns 572,617 shares of the financial services provider’s stock worth $22,653,000 after purchasing an additional 461,291 shares during the period. APG Asset Management N.V. grew its position in U.S. Bancorp by 203.2% during the 2nd quarter. APG Asset Management N.V. now owns 182,496 shares of the financial services provider’s stock worth $6,760,000 after purchasing an additional 122,300 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in U.S. Bancorp in the second quarter valued at $4,407,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on USB. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Up 1.2 %

U.S. Bancorp stock opened at $49.00 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $76.43 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05. The stock’s fifty day moving average is $50.01 and its two-hundred day moving average is $47.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. Analysts predict that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.08%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

U.S. Bancorp Company Profile

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.