Hsbc Holdings PLC Has $243.84 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• HSBC Holdings PLC increased its stake in U.S. Bancorp by 11.4% in the fourth quarter, holding 4,562,050 shares worth about $243.8 million as of its latest SEC filing.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 versus the $1.14 consensus and revenue of $7.32 billion, up 4.7% year over year.
• The bank also announced a quarterly dividend of $0.52 per share, implying an annualized yield of 3.6%, while analysts currently view the stock as a Moderate Buy with a consensus target price of $61.29.

Hsbc Holdings PLC raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,562,050 shares of the financial services provider's stock after buying an additional 468,381 shares during the period. Hsbc Holdings PLC owned 0.29% of U.S. Bancorp worth $243,838,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new stake in U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Capital Research Global Investors acquired a new position in U.S. Bancorp during the 4th quarter worth $296,377,000. SG Americas Securities LLC lifted its holdings in U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after buying an additional 4,210,676 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock valued at $1,329,683,000 after buying an additional 4,153,080 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of U.S. Bancorp by 63.2% in the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider's stock valued at $505,866,000 after buying an additional 3,672,742 shares during the period. Institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business's 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 transaction, the insider owned 207,251 shares of the company's stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $58.07 on Friday. The firm has a fifty day moving average of $55.69 and a two-hundred day moving average of $54.86. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $90.07 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.01 and a beta of 0.97. U.S. Bancorp has a 52 week low of $42.93 and a 52 week high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly 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. 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 analyst estimates of $7.27 billion. During the same period last year, the company earned $1.03 EPS. The firm's revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Oppenheimer boosted their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.29.

U.S. Bancorp 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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.