Worldquant Millennium Advisors LLC Buys 818,243 Shares of U.S. Bancorp (NYSE:USB)

Worldquant Millennium Advisors LLC grew its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 147.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,371,454 shares of the financial services provider's stock after buying an additional 818,243 shares during the period. Worldquant Millennium Advisors LLC owned 0.09% of U.S. Bancorp worth $65,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in U.S. Bancorp in the fourth quarter worth $777,524,000. Invesco Ltd. increased its position in U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Marshall Wace LLP increased its position in U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. bought a new stake in U.S. Bancorp in the fourth quarter worth $184,733,000. Finally, FMR LLC increased its position in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.4%

Shares of USB opened at $44.76 on Tuesday. The firm has a market capitalization of $69.74 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average price of $40.85 and a 200-day moving average price of $45.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. U.S. Bancorp's payout ratio is currently 49.50%.

Analyst Ratings Changes

Several brokerages recently weighed in on USB. Truist Financial reduced their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Cowen began coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Morgan Stanley dropped their price objective on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Bank of America dropped their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Finally, Royal Bank of Canada dropped their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average target price of $50.89.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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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