SG Americas Securities LLC Has $231.19 Million Stake in U.S. Bancorp $USB

Key Points

• SG Americas Securities LLC dramatically increased its stake in U.S. Bancorp in Q4—raising holdings by 3,451.9% with an additional 4,210,676 shares to own 4,332,659 shares worth about $231.19 million (≈0.28% of the company).
• U.S. Bancorp beat Q4 expectations, reporting $1.26 EPS vs. $1.19 expected and $7.92B in revenue vs. $7.31B, and declared a $0.52 quarterly dividend (annualized $2.08) representing a ≈4.0% yield.
• The stock carries a consensus "Moderate Buy" rating with an average target of $60.02 as several brokers raised price targets; institutional ownership is ~77.6% and insiders now own ~0.21% after a recent sale of 32,195 shares.

SG Americas Securities LLC grew its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3,451.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,332,659 shares of the financial services provider's stock after acquiring an additional 4,210,676 shares during the period. SG Americas Securities LLC owned 0.28% of U.S. Bancorp worth $231,191,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in USB. S.E.E.D. Planning Group LLC boosted its position in shares of U.S. Bancorp by 2.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 212,860 shares of the financial services provider's stock worth $11,358,000 after acquiring an additional 5,191 shares in the last quarter. Diversified Trust Co. lifted its holdings in U.S. Bancorp by 98.6% during the 4th quarter. Diversified Trust Co. now owns 18,811 shares of the financial services provider's stock worth $1,004,000 after buying an additional 9,341 shares during the period. True Wealth Design LLC raised its stake in U.S. Bancorp by 85.6% during the fourth quarter. True Wealth Design LLC now owns 1,370 shares of the financial services provider's stock worth $73,000 after buying an additional 632 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of U.S. Bancorp by 114.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 15,582 shares of the financial services provider's stock worth $865,000 after buying an additional 8,332 shares during the period. Finally, Genesis Private Wealth LLC grew its stake in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after buying an additional 187 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 0.4%

Shares of NYSE:USB opened at $51.48 on Tuesday. The stock's 50-day moving average is $55.39 and its 200 day moving average is $51.73. The company has a market cap of $79.90 billion, a PE ratio of 11.14, a P/E/G ratio of 0.87 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. U.S. Bancorp's dividend payout ratio (DPR) is presently 45.02%.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USB. Oppenheimer lifted their target price on U.S. Bancorp from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, January 21st. Argus lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Evercore boosted their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Thursday, February 5th. DA Davidson raised their price target on U.S. Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Finally, Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.02.

U.S. Bancorp 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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