Jain Global LLC Buys Shares of 226,061 U.S. Bancorp $USB

Key Points

• Jain Global LLC purchased a new stake of 226,061 shares in U.S. Bancorp in the third quarter, valued at approximately $10.93 million.
• U.S. Bancorp reported quarterly EPS of $1.26, beating estimates of $1.19, and revenue of $7.92 billion, up 5.1% year‑over‑year.
• The bank declared a quarterly dividend of $0.52 (annualized $2.08), implying a yield of about 4.1%, payable April 15 with an ex‑dividend date of March 31.

Jain Global LLC purchased a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 226,061 shares of the financial services provider's stock, valued at approximately $10,926,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Guerra Advisors Inc acquired a new stake in U.S. Bancorp in the 3rd quarter valued at about $25,000. Financial Life Planners purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in U.S. Bancorp during the third quarter worth about $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $27,000. Finally, Binnacle Investments Inc lifted its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.3%

Shares of NYSE USB opened at $51.15 on Tuesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm's 50 day moving average price is $55.77 and its 200 day moving average price is $51.64. The firm has a market cap of $79.40 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the previous year, the firm posted $1.07 EPS. U.S. Bancorp's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp's payout ratio is currently 45.02%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on USB. Royal Bank Of Canada raised their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 21st. Argus upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. UBS Group reiterated a "neutral" rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. HSBC reissued a "buy" rating and set a $62.00 price target on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.02.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company's stock.

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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