Arrowstreet Capital Limited Partnership Cuts Holdings in U.S. Bancorp $USB

Arrowstreet Capital Limited Partnership decreased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 78.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,427 shares of the financial services provider's stock after selling 3,054,745 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.05% of U.S. Bancorp worth $42,982,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after acquiring an additional 1,828,404 shares during the last quarter. State Street Corp boosted its holdings in shares of U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock worth $3,755,083,000 after buying an additional 522,368 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider's stock worth $2,002,518,000 after buying an additional 443,646 shares during the last quarter. Norges Bank bought a new stake in U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co increased its holdings in U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock valued at $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Trading Up 1.5%

Shares of USB stock opened at $64.45 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a fifty day simple moving average of $59.32 and a two-hundred day simple moving average of $56.55. The firm has a market capitalization of $99.97 billion, a PE ratio of 12.86, a PEG ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $64.84.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the business earned $1.11 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Barclays upped their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. BTIG Research set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. Finally, CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

About U.S. Bancorp

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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