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

Key Points

• Arrowstreet Capital reduced its U.S. Bancorp stake by 4.8% in the fourth quarter, selling 197,180 shares and ending with 3.88 million shares valued at about $207.1 million.
• U.S. Bancorp reported stronger-than-expected quarterly results, posting EPS of $1.18 versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% from a year earlier.
• Despite recent insider selling and the stock being down slightly, analysts remain mostly positive, with a Moderate Buy consensus and a $61.20 average price target.

Arrowstreet Capital Limited Partnership decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,881,172 shares of the financial services provider's stock after selling 197,180 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.25% of U.S. Bancorp worth $207,099,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in USB. Financial Life Planners bought a new position in shares of U.S. Bancorp during the third quarter valued at about $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at approximately $28,000. 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 valued at $30,000 after acquiring an additional 273 shares in the last quarter. Finally, Rossby Financial LCC lifted its holdings in shares of U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.1%

Shares of USB stock opened at $58.90 on Monday. The stock has a market cap of $91.37 billion, a P/E ratio of 12.35, a PEG ratio of 1.07 and a beta of 0.97. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. 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 company's fifty day simple moving average is $55.25 and its two-hundred day simple moving average is $54.58.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Analysts predict that U.S. Bancorp will post 5.07 EPS for the current fiscal year.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. Truist Financial lowered their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a report on Friday, April 17th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, DA Davidson reissued a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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