R Squared Ltd Boosts Position in U.S. Bancorp (NYSE:USB)

Key Points

• R Squared Ltd significantly increased its stake in U.S. Bancorp by 4,874.9% in the first quarter, acquiring a total of 23,830 shares valued at approximately $1,006,000.
• Several hedge funds have also boosted their positions in U.S. Bancorp, with Brighton Jones LLC increasing its holdings by 323.0%, now owning 48,274 shares worth about $2,309,000.
• U.S. Bancorp reported a quarterly earnings per share of $1.11, exceeding estimates, along with a recently declared quarterly dividend of $0.50 per share, translating to a 4.6% dividend yield.

R Squared Ltd boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 4,874.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,830 shares of the financial services provider's stock after acquiring an additional 23,351 shares during the period. U.S. Bancorp accounts for 1.1% of R Squared Ltd's portfolio, making the stock its 10th largest position. R Squared Ltd's holdings in U.S. Bancorp were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in USB. Brighton Jones LLC boosted 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 buying an additional 36,863 shares during the last quarter. OneAscent Financial Services LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $498,000. Westpac Banking Corp boosted its holdings in U.S. Bancorp by 9.8% during the fourth quarter. Westpac Banking Corp now owns 12,795 shares of the financial services provider's stock worth $612,000 after buying an additional 1,142 shares during the last quarter. World Investment Advisors boosted its holdings in U.S. Bancorp by 26.5% during the fourth quarter. World Investment Advisors now owns 66,545 shares of the financial services provider's stock worth $3,183,000 after buying an additional 13,926 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its holdings in U.S. Bancorp by 84.2% during the fourth quarter. Arete Wealth Advisors LLC now owns 34,700 shares of the financial services provider's stock worth $1,660,000 after buying an additional 15,864 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Barclays reduced their target price on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company cut their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Oppenheimer lifted their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 2.4%

Shares of U.S. Bancorp stock opened at $43.90 on Friday. The business's 50 day simple moving average is $45.17 and its 200 day simple moving average is $44.12. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market cap of $68.40 billion, a PE ratio of 10.50, a P/E/G ratio of 1.41 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.6%. U.S. Bancorp's payout ratio is 47.85%.

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.

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