Engineers Gate Manager LP Raises Position in U.S. Bancorp $USB

Engineers Gate Manager LP lifted its position in U.S. Bancorp (NYSE:USB - Free Report) by 39.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 525,136 shares of the financial services provider's stock after buying an additional 147,465 shares during the period. Engineers Gate Manager LP's holdings in U.S. Bancorp were worth $31,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of U.S. Bancorp by 5,893.0% in the 2nd quarter. California State Teachers Retirement System now owns 142,640,580 shares of the financial services provider's stock worth $8,615,491,000 after purchasing an additional 140,260,472 shares in the last quarter. State Street Corp boosted its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock valued at $3,755,083,000 after buying an additional 522,368 shares during the last quarter. Mufg Bank LTD. bought a new stake in U.S. Bancorp in the 2nd quarter worth about $2,680,199,000. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 1.2% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new position in U.S. Bancorp in the 4th quarter worth about $1,887,497,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

USB opened at $62.22 on Thursday. The company's 50 day moving average is $63.16 and its 200 day moving average is $57.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.11 and a beta of 0.95. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period last year, the firm earned $1.11 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.5%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 41.52%.

Insider Activity

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $68.00 price target on shares of U.S. Bancorp in a report on Monday, August 24th. Robert W. Baird boosted their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Stephens raised their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Jefferies Financial Group raised shares of U.S. Bancorp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. Finally, Truist Financial boosted their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.06.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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