Engineers Gate Manager LP Boosts Stock Holdings in U.S. Bancorp $USB

Key Points

• Engineers Gate Manager LP increased its U.S. Bancorp stake by 373.3% in the fourth quarter, ending with 893,655 shares valued at about $47.7 million.
• Institutional ownership remains high, with 77.6% of USB shares held by institutional investors, and several other funds also raised their positions during the quarter.
• U.S. Bancorp recently posted better-than-expected earnings and announced a quarterly dividend of $0.52 per share, yielding about 3.6% annually, though some insider sales and valuation concerns suggest limited near-term upside.

Engineers Gate Manager LP raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 373.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 893,655 shares of the financial services provider's stock after buying an additional 704,847 shares during the period. Engineers Gate Manager LP owned about 0.06% of U.S. Bancorp worth $47,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Manhattan CO. LLC. raised its holdings in U.S. Bancorp by 3.8% during the 4th quarter. First Manhattan CO. LLC. now owns 374,765 shares of the financial services provider's stock valued at $20,192,000 after buying an additional 13,673 shares during the last quarter. Capitolis Liquid Global Markets LLC raised its holdings in U.S. Bancorp by 525.3% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 2,081,500 shares of the financial services provider's stock valued at $111,069,000 after buying an additional 1,748,600 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in U.S. Bancorp by 2.4% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 155,304 shares of the financial services provider's stock valued at $8,306,000 after buying an additional 3,666 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in U.S. Bancorp by 23.7% during the 4th quarter. Boothbay Fund Management LLC now owns 13,423 shares of the financial services provider's stock valued at $716,000 after buying an additional 2,570 shares during the last quarter. Finally, Auxier Asset Management LLC raised its holdings in U.S. Bancorp by 20.0% during the 4th quarter. Auxier Asset Management LLC now owns 15,609 shares of the financial services provider's stock valued at $833,000 after buying an additional 2,600 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, April 21st. The stock was 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 directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the executive vice president owned 51,292 shares of the company's stock, valued at $2,847,731.84. The trade was a 40.23% 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 company insiders.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp announced a quarterly dividend of $0.52 per share, reinforcing its appeal as an income stock and signaling continued capital returns to shareholders. U.S. Bancorp Announces Quarterly Dividends
• Positive Sentiment: Analyst and commentary pieces highlighted USB as a top dividend stock and a value play versus Northern Trust, which can support investor interest if the market continues to favor banks with steady payouts and reasonable valuations. U.S. Bancorp (USB) is a Top Dividend Stock Right Now: Should You Buy? USB or NTRS: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: U.S. Bancorp named Brian Mauney as head of investor relations and appointed Daniel Farley as chief investment officer for its Wealth Management Asset Management Group, both of which are routine management moves with limited immediate earnings impact. U.S. Bancorp Names Brian Mauney Head of Investor Relations U.S. Bank Wealth Management Appoints Daniel Farley Chief Investment Officer
• Negative Sentiment: A DCF analysis from GuruFocus estimated USB’s intrinsic value at about $55 versus a recent share price near $58, suggesting the stock may be trading above fair value and limiting upside in the near term. USB DCF Analysis: Intrinsic Value $55 vs Price $58

Analyst Ratings Changes

USB has been the subject of a number of recent analyst reports. Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. DA Davidson restated a "buy" rating and set a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Barclays upped their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Finally, Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.29.

U.S. Bancorp Stock Performance

Shares of USB opened at $57.81 on Thursday. 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 price is $55.55 and its 200-day moving average price is $54.77. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The stock has a market cap of $89.67 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.06 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during 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 for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.61%.

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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