U.S. Bancorp $USB Holdings Lifted by Quantitative Investment Management LLC

Quantitative Investment Management LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 239.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,044 shares of the financial services provider’s stock after acquiring an additional 17,663 shares during the period. Quantitative Investment Management LLC’s holdings in U.S. Bancorp were worth $1,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $2,680,199,000. Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $1,887,497,000. Auto Owners Insurance Co lifted its holdings in shares of 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 valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $536,457,000. Finally, Capital Research Global Investors acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $296,377,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $61.66 on Tuesday. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The stock’s 50-day moving average is $62.90 and its two-hundred day moving average is $57.74. 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 cap of $96.07 billion, a P/E ratio of 12.31, a PEG ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the company earned $1.11 EPS. Analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. U.S. Bancorp’s payout ratio is 41.52%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on USB shares. Truist Financial lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. DA Davidson raised their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of U.S. Bancorp in a research report on Monday, August 24th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. One equities research 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 stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Insider Buying and Selling

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the sale, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

About U.S. Bancorp

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.