Quantbot Technologies LP Purchases Shares of 790,448 U.S. Bancorp $USB

Key Points

• Quantbot Technologies LP has acquired a significant stake in U.S. Bancorp, purchasing 790,448 shares worth approximately $33.37 million, making it the second largest holding in their investment portfolio.
• U.S. Bancorp recently announced a quarterly dividend of $0.50, which translates to an annual yield of 4.4% and reflects a payout ratio of 47.85%.
• Brokerages have increased their target prices for U.S. Bancorp, with DA Davidson raising it from $49.00 to $52.00 and Citigroup from $55.00 to $59.00, indicating positive sentiment among analysts.

Quantbot Technologies LP purchased a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 790,448 shares of the financial services provider's stock, valued at approximately $33,373,000. U.S. Bancorp makes up about 1.1% of Quantbot Technologies LP's investment portfolio, making the stock its 2nd largest holding. Quantbot Technologies LP owned 0.05% of U.S. Bancorp as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of U.S. Bancorp by 56.9% during the first quarter. Wellington Management Group LLP now owns 159,937 shares of the financial services provider's stock worth $6,753,000 after acquiring an additional 57,991 shares in the last quarter. Alpha Family Trust grew its position in U.S. Bancorp by 35.4% in the 1st quarter. Alpha Family Trust now owns 8,025 shares of the financial services provider's stock worth $339,000 after purchasing an additional 2,100 shares in the last quarter. Aptus Capital Advisors LLC grew its position in U.S. Bancorp by 2.1% in the 1st quarter. Aptus Capital Advisors LLC now owns 84,382 shares of the financial services provider's stock worth $3,563,000 after purchasing an additional 1,701 shares in the last quarter. Brooklyn Investment Group grew its position in U.S. Bancorp by 31.8% in the 1st quarter. Brooklyn Investment Group now owns 6,857 shares of the financial services provider's stock worth $290,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Versor Investments LP bought a new stake in U.S. Bancorp in the 1st quarter worth about $426,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 1.9%

Shares of USB opened at $45.96 on Monday. The firm's 50-day moving average price is $45.46 and its 200-day moving average price is $43.80. The firm has a market capitalization of $71.52 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.44 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on USB. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Citigroup increased their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Finally, Truist Financial increased their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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