QRG Capital Management Inc. Buys 25,948 Shares of U.S. Bancorp $USB

Key Points

• QRG Capital Management increased its U.S. Bancorp stake by 26.5%, buying 25,948 shares to hold 123,760 shares valued at about $6.6 million at the quarter end.
• Two insiders sold shares recently — Jodi L. Richard sold 40,000 shares at $57 (≈$2.28M) and Mark G. Runkel sold 32,195 shares at $60.65 — leaving insiders with just 0.21% ownership.
• U.S. Bancorp beat quarterly estimates (EPS $1.18 vs $1.14; revenue $7.32B vs $7.27B), pays a $0.52 quarterly dividend (annualized yield ≈ 3.7%), and has a consensus analyst rating of “Moderate Buy” with a $61.20 target.

QRG Capital Management Inc. lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 26.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,760 shares of the financial services provider's stock after buying an additional 25,948 shares during the quarter. QRG Capital Management Inc.'s holdings in U.S. Bancorp were worth $6,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guerra Advisors Inc purchased a new stake in U.S. Bancorp in the 3rd quarter worth $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the third quarter valued at about $25,000. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the third quarter worth about $26,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth about $28,000. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company's stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Up 0.7%

NYSE:USB opened at $55.61 on Wednesday. The company has a market cap of $86.33 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. U.S. Bancorp has a twelve month low of $40.89 and a twelve month high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $54.04 and a 200-day simple moving average of $53.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for 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 18.26%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is currently 43.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial dropped their price target on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Argus upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Royal Bank Of Canada raised their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Finally, DA Davidson restated a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

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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