WINTON GROUP Ltd Purchases Shares of 42,300 U.S. Bancorp $USB

Key Points

• WINTON GROUP Ltd. acquired 42,300 U.S. Bancorp shares during the second quarter, valued at approximately $2.56 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 $7.69 billion in revenue, while analysts project $5.22 in full-year EPS.
• The company raised its quarterly dividend from $0.52 to $0.54 per share, equivalent to a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with a $67.06 average price target.

WINTON GROUP Ltd acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,300 shares of the financial services provider's stock, valued at approximately $2,555,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the first quarter worth approximately $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $28,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth approximately $28,000. Archer Investment Corp purchased a new position in U.S. Bancorp in the second quarter valued at approximately $29,000. Finally, Parvin Asset Management LLC acquired a new position in U.S. Bancorp during the second quarter valued at approximately $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

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 value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction dated 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 owned 74,969 shares in the company, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

NYSE USB opened at $62.86 on Friday. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $97.94 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95. The company has a 50 day simple moving average of $63.20 and a 200-day simple moving average of $58.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its 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 net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.54 dividend. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on USB. DA Davidson upped their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the stock an "overweight" rating in a research report 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 research note on Friday, July 17th. Barclays upped their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, Truist Financial boosted their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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