U.S. Bancorp $USB Shares Acquired by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC increased its U.S. Bancorp stake by 239.3% in the second quarter, ending with 25,044 shares valued at approximately $1.51 million. Institutional investors collectively own 77.6% of the bank’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $67.06, compared with the stock’s reported price of $61.66.
• U.S. Bancorp exceeded quarterly expectations, reporting $1.35 in EPS versus the $1.28 consensus and $7.69 billion in revenue. The company also pays a $0.52 quarterly dividend, equal to a 3.4% annualized yield.

Quantitative Investment Management LLC increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 239.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,044 shares of the financial services provider's stock after purchasing an additional 17,663 shares during the period. Quantitative Investment Management LLC's holdings in U.S. Bancorp were worth $1,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Archer Investment Corp bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $29,000. Parvin Asset Management LLC bought a new position in U.S. Bancorp during the second quarter worth $30,000. Financial Life Planners bought a new position in U.S. Bancorp during the first quarter worth $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the first quarter worth $28,000. Finally, Rossby Financial LCC increased its stake in U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $68.00 price objective on shares of U.S. Bancorp in a research note on Monday, August 24th. Stephens raised their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. Raymond James Financial assumed coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They issued a "strong-buy" rating and a $72.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $67.06.

U.S. Bancorp Stock Performance

USB opened at $61.66 on Tuesday. The business's 50 day moving average is $62.90 and its 200-day moving average is $57.74. The stock has a market cap of $96.07 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. 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 has a twelve month low of $45.02 and a twelve month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the company posted $1.11 EPS. On average, analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp's dividend payout ratio is presently 41.52%.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares of the company's stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the company's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

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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