CORDA Investment Management LLC. Has $42.98 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• CORDA Investment Management LLC increased its stake in U.S. Bancorp by 1.9% in the second quarter, owning 949,830 shares valued at approximately $42.98 million.
• U.S. Bancorp recently reported quarterly earnings of $1.22 per share, exceeding analysts' estimates, with revenue up 6.8% year-over-year.
• The company also announced a quarterly dividend increase to $0.52 per share, with a yield of 4.6%, reflecting a payout ratio of 47.60%.

CORDA Investment Management LLC. raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 949,830 shares of the financial services provider's stock after purchasing an additional 18,005 shares during the quarter. U.S. Bancorp accounts for about 3.2% of CORDA Investment Management LLC.'s holdings, making the stock its 9th biggest holding. CORDA Investment Management LLC. owned approximately 0.06% of U.S. Bancorp worth $42,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock worth $1,548,000 after acquiring an additional 333 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of U.S. Bancorp by 3.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,495 shares of the financial services provider's stock worth $443,000 after acquiring an additional 350 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of U.S. Bancorp by 62.0% in the 1st quarter. Intact Investment Management Inc. now owns 181,000 shares of the financial services provider's stock worth $7,642,000 after acquiring an additional 69,300 shares during the last quarter. Finally, Cullinan Associates Inc. lifted its holdings in shares of U.S. Bancorp by 0.8% in the 1st quarter. Cullinan Associates Inc. now owns 38,218 shares of the financial services provider's stock worth $1,614,000 after acquiring an additional 300 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.0%

NYSE:USB opened at $45.66 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average of $47.93 and a 200 day moving average of $44.86. The firm has a market capitalization of $71.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.31 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is presently 47.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Citigroup boosted their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Friday. Finally, Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.48.

U.S. Bancorp 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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.