Genus Capital Management Inc. Buys New Shares in U.S. Bancorp $USB

Key Points

• Genus Capital Management opened a new position in U.S. Bancorp during the fourth quarter, buying 183,730 shares worth about $9.8 million. The stake represents 1.1% of Genus’s portfolio and its 28th-largest holding.
• U.S. Bancorp recently reported quarterly earnings of $1.18 per share, topping analyst estimates, while revenue came in at $7.32 billion, also slightly above expectations. Revenue rose 4.7% year over year.
• The bank continues to return cash to shareholders with a $0.52 quarterly dividend, equal to a 3.8% annualized yield. Analysts currently rate the stock a Moderate Buy, with an average price target of $61.20.

Genus Capital Management Inc. bought a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 183,730 shares of the financial services provider's stock, valued at approximately $9,804,000. U.S. Bancorp makes up 1.1% of Genus Capital Management Inc.'s investment portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. Guerra Advisors Inc purchased a new position in U.S. Bancorp during the third quarter valued at $25,000. Financial Life Planners purchased a new position in U.S. Bancorp during the third quarter valued at $25,000. Clayton Financial Group LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at $25,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter valued at $28,000. Finally, Binnacle Investments Inc lifted its position in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 sale, the executive vice president directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 $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. Insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $54.85 on Monday. The stock's 50-day simple moving average is $54.07 and its 200-day simple moving average is $53.69. U.S. Bancorp has a 52 week low of $42.21 and a 52 week high of $61.19. The company has a market capitalization of $85.14 billion, a price-to-earnings ratio of 11.50, a PEG 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.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $7.27 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

USB has been the topic of several analyst reports. Oppenheimer lifted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. Evercore lifted their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Finally, Truist Financial lowered their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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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