Quantitative Investment Management LLC Takes Position in U.S. Bancorp $USB

Key Points

• Quantitative Investment Management LLC has invested approximately $788,000 in U.S. Bancorp by purchasing 18,673 shares, indicating strong institutional interest in the stock.
• Several analysts have upgraded their ratings for U.S. Bancorp, with Citigroup raising its price target from $55.00 to $59.00, reflecting positive sentiment about the company's future performance.
• U.S. Bancorp recently announced a quarterly dividend of $0.50 per share, which translates to an annualized dividend yield of 4.1%, highlighting its ongoing commitment to returning value to shareholders.

Quantitative Investment Management LLC acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 18,673 shares of the financial services provider's stock, valued at approximately $788,000.

Several other hedge funds also recently modified their holdings of USB. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. Northern Trust Corp lifted its position in U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after acquiring an additional 1,670,305 shares during the last quarter. Davis Selected Advisers lifted its position in U.S. Bancorp by 3.6% during the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock worth $628,614,000 after acquiring an additional 513,875 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in U.S. Bancorp by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after acquiring an additional 1,339,493 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $0.20 during midday trading on Friday, reaching $48.87. 8,528,995 shares of the company were exchanged, compared to its average volume of 10,531,445. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market cap of $76.05 billion, a P/E ratio of 11.69, a PEG ratio of 1.53 and a beta of 1.01. The stock's 50-day moving average price is $46.14 and its 200-day moving average price is $43.86.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.1%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Oppenheimer upped their target price on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group upped their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Truist Financial upped their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Citigroup lifted their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp 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.