AlphaQuest LLC Has $4.43 Million Stock Position in U.S. Bancorp $USB

Key Points

• AlphaQuest LLC increased its U.S. Bancorp stake by 38.3% in the fourth quarter, ending with 83,082 shares valued at about $4.43 million.
• U.S. Bancorp reported strong quarterly results, with earnings of $1.18 per share beating estimates and revenue of $7.32 billion topping expectations.
• The bank also pays a 3.8% dividend yield, while analysts currently rate the stock Moderate Buy with a consensus price target of $61.20.

AlphaQuest LLC grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,082 shares of the financial services provider's stock after acquiring an additional 22,991 shares during the quarter. U.S. Bancorp accounts for 0.2% of AlphaQuest LLC's holdings, making the stock its 16th biggest position. AlphaQuest LLC's holdings in U.S. Bancorp were worth $4,433,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of USB. Guerra Advisors Inc acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. Financial Life Planners acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $28,000. Finally, Binnacle Investments Inc boosted its position in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after acquiring an additional 273 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Up 0.0%

Shares of U.S. Bancorp stock opened at $54.85 on Tuesday. U.S. Bancorp has a 12-month low of $42.21 and a 12-month high of $61.19. The stock has a market cap of $85.14 billion, a P/E ratio of 11.50, a P/E/G ratio of 0.99 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business's 50 day moving average is $54.14 and its 200-day moving average is $53.75.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is 43.61%.

Analyst Ratings Changes

USB has been the subject of a number of recent research reports. UBS Group reaffirmed a "neutral" rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Barclays upped their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Evercore upped their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a research report on Thursday, February 5th. DA Davidson reaffirmed a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned 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 $61.20.

U.S. Bancorp Company Profile

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.

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