Gateway Investment Advisers LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Gateway Investment Advisers LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 14.3% in the fourth quarter, HoldingsChannel reports. The firm owned 4,346 shares of the financial services provider’s stock after selling 725 shares during the period. Gateway Investment Advisers LLC’s holdings in U.S. Bancorp were worth $208,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Marshall Wace LLP increased its holdings in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after buying an additional 1,847,000 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $48.40 on Monday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The firm has a market capitalization of $75.50 billion, a PE ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. The company’s 50 day simple moving average is $50.18 and its 200 day simple moving average is $46.83. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.21.

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.