Interval Partners LP Acquires Shares of 949,455 U.S. Bancorp $USB

Key Points

• Interval Partners LP opened a new position in U.S. Bancorp during the fourth quarter, buying 949,455 shares valued at about $50.7 million. The stake represented roughly 0.06% of U.S. Bancorp and about 0.9% of Interval Partners’ portfolio.
• 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. Analysts now expect the bank to earn 5.07 EPS for the current year.
• The company also announced a quarterly dividend of $0.52 per share, equivalent to an annualized yield of about 3.6%. Meanwhile, Wall Street’s consensus rating remains Moderate Buy with an average price target of $61.29.

Interval Partners LP purchased a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 949,455 shares of the financial services provider's stock, valued at approximately $50,663,000. U.S. Bancorp accounts for about 0.9% of Interval Partners LP's portfolio, making the stock its 21st largest holding. Interval Partners LP owned 0.06% of U.S. Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth $25,000. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $25,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $28,000. Binnacle Investments Inc increased its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after purchasing an additional 273 shares during the last quarter. Finally, Rossby Financial LCC increased its position in shares of U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 1.8%

Shares of NYSE:USB opened at $57.81 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $89.67 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The firm's 50-day moving average is $55.55 and its two-hundred day moving average is $54.77. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Analysts predict that U.S. Bancorp will post 5.07 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Oppenheimer raised their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Royal Bank Of Canada raised their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Weiss Ratings raised U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Truist Financial cut their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.29.

U.S. Bancorp News Roundup

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp announced a quarterly dividend of $0.52 per share, reinforcing its appeal as an income stock and signaling continued capital returns to shareholders. U.S. Bancorp Announces Quarterly Dividends
• Positive Sentiment: Analyst and commentary pieces highlighted USB as a top dividend stock and a value play versus Northern Trust, which can support investor interest if the market continues to favor banks with steady payouts and reasonable valuations. U.S. Bancorp (USB) is a Top Dividend Stock Right Now: Should You Buy? USB or NTRS: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: U.S. Bancorp named Brian Mauney as head of investor relations and appointed Daniel Farley as chief investment officer for its Wealth Management Asset Management Group, both of which are routine management moves with limited immediate earnings impact. U.S. Bancorp Names Brian Mauney Head of Investor Relations U.S. Bank Wealth Management Appoints Daniel Farley Chief Investment Officer
• Negative Sentiment: A DCF analysis from GuruFocus estimated USB’s intrinsic value at about $55 versus a recent share price near $58, suggesting the stock may be trading above fair value and limiting upside in the near term. USB DCF Analysis: Intrinsic Value $55 vs Price $58

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the business'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 sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

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.

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