NEOS Investment Management LLC Has $15.27 Million Position in U.S. Bancorp $USB

Key Points

• NEOS Investment Management increased its U.S. Bancorp stake by 13.4% in the second quarter, bringing its holdings to 252,833 shares valued at approximately $15.27 million. Institutional investors and hedge funds collectively own 77.6% of the stock.
• U.S. Bancorp reported quarterly EPS of $1.35, beating estimates of $1.28, while revenue reached $7.69 billion. The company also pays a quarterly dividend of $0.52 per share, representing a 3.3% annualized yield.
• Analyst sentiment is broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $67.06, compared with its recent price near $63.36.

NEOS Investment Management LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,833 shares of the financial services provider's stock after purchasing an additional 29,868 shares during the quarter. NEOS Investment Management LLC's holdings in U.S. Bancorp were worth $15,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also 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 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after acquiring an additional 714 shares in the last quarter. Intech Investment Management LLC grew its position in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock worth $1,658,000 after acquiring an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in U.S. Bancorp in the 2nd quarter worth about $425,000. Finally, Nebula Research & Development LLC acquired a new position in U.S. Bancorp in the 2nd quarter worth about $701,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 0.3%

NYSE USB opened at $63.36 on Friday. The stock has a market capitalization of $98.72 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.13 and a beta of 0.95. The business has a 50 day simple moving average of $63.07 and a 200 day simple moving average of $57.87. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.69 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. Research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore raised U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 price target on the stock in a research note on Monday, July 20th. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Robert W. Baird lifted their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of U.S. Bancorp in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.06.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

U.S. Bancorp Company 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source