Gulf International Bank UK Ltd Cuts Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• Gulf International Bank UK Ltd reduced its stake in U.S. Bancorp by 21.6%, selling 25,183 shares and now holding 91,584 shares valued at $3,866,000.
• Multiple hedge funds have also altered their positions in U.S. Bancorp, with significant increases in holdings reported by firms like REAP Financial Group LLC and Rakuten Securities Inc..
• U.S. Bancorp recently announced a quarterly dividend of $0.50, resulting in an annualized dividend yield of 4.3%.

Gulf International Bank UK Ltd decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,584 shares of the financial services provider's stock after selling 25,183 shares during the quarter. Gulf International Bank UK Ltd's holdings in U.S. Bancorp were worth $3,866,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of USB. Marshall Wace LLP increased its holdings in U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. Nuveen LLC purchased a new stake in U.S. Bancorp during the 1st quarter worth about $138,183,000. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. Northern Trust Corp boosted its position in shares of U.S. Bancorp by 10.9% during the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of U.S. Bancorp by 4,160.7% during the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after acquiring an additional 1,511,293 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.87 during mid-day trading on Friday, reaching $45.96. 8,995,415 shares of the company were exchanged, compared to its average volume of 8,897,143. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm's 50-day simple moving average is $45.46 and its two-hundred day simple moving average is $43.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $71.52 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period last year, the firm earned $0.98 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analyst Ratings Changes

Several research analysts have recently issued reports on USB shares. Truist Financial upped their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. TD Cowen started coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Oppenheimer upped their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Citigroup upped their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Evercore ISI upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.