Woodline Partners LP Purchases 38,111 Shares of U.S. Bancorp $USB

Key Points

• Woodline Partners LP increased its stake in U.S. Bancorp by 40.7%, acquiring an additional 38,111 shares during Q1, raising its total holdings to 131,797 shares valued at approximately $5.56 million.
• U.S. Bancorp has seen several hedge funds boost their positions, with Brighton Jones LLC leading with a 323% increase in Q4, now holding 48,274 shares valued at $2.31 million.
• Equity research analysts have upgraded U.S. Bancorp's rating, with Raymond James Financial moving it to a "strong-buy" rating and raising its target price to $57.00.

Woodline Partners LP grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 40.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,797 shares of the financial services provider's stock after purchasing an additional 38,111 shares during the period. Woodline Partners LP's holdings in U.S. Bancorp were worth $5,564,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in USB. Brighton Jones LLC boosted its holdings in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after acquiring an additional 36,863 shares during the period. Gotham Asset Management LLC boosted its holdings in U.S. Bancorp by 0.9% during the 4th quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider's stock valued at $1,564,000 after acquiring an additional 281 shares during the period. Man Group plc boosted its holdings in U.S. Bancorp by 32.8% during the 4th quarter. Man Group plc now owns 48,258 shares of the financial services provider's stock valued at $2,308,000 after acquiring an additional 11,926 shares during the period. Quantinno Capital Management LP boosted its holdings in U.S. Bancorp by 27.5% during the 4th quarter. Quantinno Capital Management LP now owns 120,997 shares of the financial services provider's stock valued at $5,787,000 after acquiring an additional 26,130 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in U.S. Bancorp by 11.5% during the 4th quarter. ProShare Advisors LLC now owns 334,288 shares of the financial services provider's stock valued at $15,989,000 after acquiring an additional 34,371 shares during the period. Institutional investors own 77.60% of the company's stock.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on USB shares. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $51.00 to $57.00 in a report on Monday, July 7th. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup raised their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Truist Financial raised their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Stock Down 0.4%

Shares of NYSE:USB opened at $49.13 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market capitalization of $76.46 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.55 and a beta of 1.05. The stock has a 50 day moving average price of $46.85 and a 200-day moving average price of $44.01. 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 announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio is currently 47.85%.

U.S. Bancorp Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.