Headlands Technologies LLC Takes $328,000 Position in U.S. Bancorp (NYSE:USB)

Key Points

• Headlands Technologies LLC has acquired 7,770 shares of U.S. Bancorp valued at approximately $328,000 in the first quarter.
• Major investors, including Marshall Wace LLP and Vanguard Group Inc., have significantly increased their stakes in U.S. Bancorp in recent quarters, indicating strong institutional interest.
• U.S. Bancorp reported quarterly earnings of $1.11 EPS, beating estimates, and declared a quarterly dividend of $0.50 per share, representing a 4.5% yield.

Headlands Technologies LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,770 shares of the financial services provider's stock, valued at approximately $328,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd raised its position in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 214 shares in the last quarter. TrinityPoint Wealth LLC raised its position in U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 231 shares in the last quarter. CoreCap Advisors LLC raised its position in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 242 shares in the last quarter. Bestgate Wealth Advisors LLC raised its position in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 253 shares in the last quarter. Finally, Atlantic Family Wealth LLC raised its position in U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 254 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.05 during trading on Thursday, reaching $46.56. The company's stock had a trading volume of 3,176,741 shares, compared to its average volume of 10,676,953. 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 $72.45 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.43 and a beta of 1.01. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The business's fifty day moving average price is $45.37 and its 200-day moving average price is $43.90.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. Truist Financial lifted their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Wells Fargo & Company decreased their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley increased their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Citigroup increased their price target on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group increased their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Profile

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.