Y Intercept Hong Kong Ltd Increases Holdings in U.S. Bancorp (NYSE:USB)

Y Intercept Hong Kong Ltd raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 386.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,837 shares of the financial services provider's stock after buying an additional 119,829 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in U.S. Bancorp were worth $6,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after buying an additional 1,079,056 shares in the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Northern Trust Corp increased its position in shares of U.S. Bancorp by 10.9% during the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on USB shares. The Goldman Sachs Group increased their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Morgan Stanley increased their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $52.50.

U.S. Bancorp Trading Up 0.1%

NYSE USB traded up $0.07 on Friday, hitting $46.13. The company's stock had a trading volume of 2,351,767 shares, compared to its average volume of 10,909,829. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The company's 50-day simple moving average is $44.96 and its 200 day simple moving average is $44.24. The firm has a market cap of $71.86 billion, a P/E ratio of 11.03, a PEG ratio of 1.46 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's 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 in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by 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.