Intech Investment Management LLC Has $8.54 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Intech Investment Management increased its U.S. Bancorp stake by 15.4% in the fourth quarter, ending with 159,974 shares valued at about $8.54 million.
• U.S. Bancorp also saw notable insider selling, including EVP Venkatachari Dilip and insider Jodi L. Richard reducing their holdings through recent stock sales.
• Analysts remain cautiously positive overall, with a Moderate Buy consensus and an average price target of $61.20; the bank also posted quarterly results that beat earnings and revenue expectations.

Intech Investment Management LLC raised its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,974 shares of the financial services provider's stock after acquiring an additional 21,325 shares during the quarter. Intech Investment Management LLC's holdings in U.S. Bancorp were worth $8,536,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Brighton Jones LLC lifted its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after buying an additional 36,863 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after buying an additional 714 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth $425,000. Nebula Research & Development LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth $701,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of U.S. Bancorp by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 1,902,076 shares of the financial services provider's stock worth $86,069,000 after buying an additional 14,799 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on USB shares. JPMorgan Chase & Co. reduced their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research note on Thursday, April 30th. Evercore boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Barclays boosted their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Price Performance

NYSE:USB opened at $54.87 on Friday. The stock has a market cap of $85.17 billion, a P/E ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. U.S. Bancorp has a one year low of $42.55 and a one year high of $61.19. The company has a fifty day moving average price of $54.42 and a 200 day moving average price of $53.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results 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. The firm had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

About U.S. Bancorp

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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