Quantinno Capital Management LP Boosts Holdings in U.S. Bancorp $USB

Key Points

• Quantinno Capital Management increased its U.S. Bancorp stake by 28% in the first quarter, adding 277,012 shares to own 1.27 million shares valued at approximately $65.8 million. Institutional investors and hedge funds collectively own 77.6% of the company.
• U.S. Bancorp exceeded quarterly expectations, reporting $1.35 in earnings per share on $7.71 billion in revenue, above analyst estimates of $1.28 EPS and $7.58 billion in revenue.
• The bank maintained its quarterly dividend at $0.52 per share, equivalent to an annualized $2.08 payout and a 3.2% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $67.

Quantinno Capital Management LP boosted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 28.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,265,360 shares of the financial services provider's stock after buying an additional 277,012 shares during the quarter. Quantinno Capital Management LP owned approximately 0.08% of U.S. Bancorp worth $65,811,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp during the first quarter worth $28,000. Rossby Financial LCC boosted its holdings in shares of U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after purchasing an additional 212 shares during the last quarter. Finally, NFSG Corp purchased a new stake in shares of U.S. Bancorp in the first quarter valued at $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of USB stock opened at $64.45 on Wednesday. The firm has a fifty day simple moving average of $59.32 and a 200-day simple moving average of $56.55. The company has a market capitalization of $99.97 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on USB. DA Davidson raised their price target on U.S. Bancorp from $72.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. Truist Financial upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 17th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Finally, CLSA set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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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