Adage Capital Partners GP L.L.C. Has $63.26 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Adage Capital Partners GP L.L.C. lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,322,500 shares of the financial services provider's stock after selling 38,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of U.S. Bancorp worth $63,255,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in U.S. Bancorp during the 3rd quarter worth $229,000. Wealthquest Corp acquired a new stake in shares of U.S. Bancorp during the third quarter worth $1,160,000. Pine Valley Investments Ltd Liability Co bought a new stake in U.S. Bancorp in the third quarter valued at about $229,000. World Investment Advisors LLC lifted its stake in U.S. Bancorp by 6.0% in the third quarter. World Investment Advisors LLC now owns 52,619 shares of the financial services provider's stock valued at $2,406,000 after buying an additional 2,988 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in U.S. Bancorp by 126.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 44,819 shares of the financial services provider's stock worth $2,050,000 after buying an additional 24,992 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.0 %

Shares of NYSE USB traded down $0.01 during trading hours on Tuesday, hitting $40.18. The company had a trading volume of 2,752,309 shares, compared to its average volume of 9,041,096. The stock has a market capitalization of $62.59 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The firm's 50 day moving average is $41.57 and its 200-day moving average is $46.57. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's payout ratio is currently 49.50%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. Oppenheimer increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday. The Goldman Sachs Group decreased their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Piper Sandler dropped their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Finally, Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.48.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company's stock.

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.