Qsemble Capital Management LP Sells 37,822 Shares of U.S. Bancorp $USB

Key Points

• Qsemble Capital Management cut its U.S. Bancorp stake by 19.0% in the fourth quarter, selling 37,822 shares and leaving it with 161,484 shares valued at about $8.6 million.
• Insider selling was also noted, with Jodi L. Richard and EVP Venkatachari Dilip selling shares in April and May, reducing their ownership stakes significantly.
• U.S. Bancorp beat quarterly expectations with EPS of $1.18 versus $1.14 expected and revenue of $7.32 billion, while also paying a quarterly dividend of $0.52, implying a 3.9% yield.

Qsemble Capital Management LP reduced its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,484 shares of the financial services provider's stock after selling 37,822 shares during the quarter. U.S. Bancorp makes up about 0.7% of Qsemble Capital Management LP's holdings, making the stock its 27th largest position. Qsemble Capital Management LP's holdings in U.S. Bancorp were worth $8,617,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of USB. Brighton Jones LLC lifted its holdings in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC lifted its holdings in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after acquiring an additional 714 shares during the period. Intech Investment Management LLC increased its position in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock worth $1,658,000 after buying an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in U.S. Bancorp in the second quarter worth $425,000. Finally, Nebula Research & Development LLC purchased a new stake in U.S. Bancorp in the second quarter worth $701,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent research reports. Jefferies Financial Group reissued a "hold" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Keefe, Bruyette & Woods raised their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 21st. Truist Financial decreased their target price 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. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Morgan Stanley set a $64.00 target price on 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 assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $61.20.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $53.15 on Friday. The stock has a market cap of $82.50 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. U.S. Bancorp has a fifty-two week low of $42.21 and a fifty-two week high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $53.91 and a 200-day moving average of $53.39.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. U.S. Bancorp's payout ratio is 43.61%.

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.

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