SG Americas Securities LLC Purchases 2,227,285 Shares of U.S. Bancorp $USB

SG Americas Securities LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 51.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,559,944 shares of the financial services provider’s stock after buying an additional 2,227,285 shares during the period. SG Americas Securities LLC owned about 0.42% of U.S. Bancorp worth $341,183,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after acquiring an additional 1,828,404 shares during the last quarter. State Street Corp raised its holdings in shares of U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp in the fourth quarter worth $1,887,497,000. Finally, Auto Owners Insurance Co boosted its holdings in U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $58.07 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $55.69 and its 200 day simple moving average is $54.90. U.S. Bancorp has a 1-year low of $42.93 and a 1-year high of $61.19. The company has a market cap of $90.07 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Stephens started coverage on shares of U.S. Bancorp in a research note on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

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.