Nilsine Partners LLC Boosts Stake in U.S. Bancorp $USB

Key Points

• Nilsine Partners increased its U.S. Bancorp stake by 380.5% in the second quarter, bringing its holdings to 33,748 shares valued at approximately $2.04 million. Institutional investors and hedge funds collectively own 77.6% of the stock.
• U.S. Bancorp exceeded quarterly earnings expectations, reporting $1.35 in EPS versus the $1.28 consensus estimate and revenue of $7.69 billion. The bank also maintains a quarterly dividend of $0.52, equivalent to a 3.3% annual yield.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $67.06; recent targets range from $66 to $72. Shares opened at $63.36, near their 52-week high of $66.07.

Nilsine Partners LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 380.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,748 shares of the financial services provider's stock after buying an additional 26,725 shares during the period. Nilsine Partners LLC's holdings in U.S. Bancorp were worth $2,038,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in USB. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the first quarter worth about $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the 1st quarter worth approximately $28,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp in the 3rd quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $29,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $63.36 on Monday. The company has a market capitalization of $98.72 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The company's fifty day moving average price is $63.07 and its 200 day moving average price is $57.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share 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 business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp's dividend payout ratio is presently 41.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on USB. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. UBS Group upped their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Truist Financial lifted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 17th. Evercore raised U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Monday, July 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of U.S. Bancorp in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $67.06.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction that occurred 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 directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

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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