Bayesian Capital Management LP Purchases New Position in U.S. Bancorp (NYSE:USB)

Bayesian Capital Management LP acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 32,900 shares of the financial services provider’s stock, valued at approximately $1,471,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Assenagon Asset Management S.A. boosted its holdings in shares of U.S. Bancorp by 108.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 40,604 shares of the financial services provider’s stock valued at $1,757,000 after acquiring an additional 499,485 shares during the period. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Ritholtz Wealth Management increased its stake in shares of U.S. Bancorp by 11.3% during the 4th quarter. Ritholtz Wealth Management now owns 20,266 shares of the financial services provider’s stock worth $877,000 after purchasing an additional 2,056 shares in the last quarter. Blue Trust Inc. raised its position in shares of U.S. Bancorp by 18.3% during the 4th quarter. Blue Trust Inc. now owns 8,279 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 1,280 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in U.S. Bancorp by 4.9% in the 4th quarter. Global Retirement Partners LLC now owns 28,886 shares of the financial services provider’s stock valued at $1,195,000 after buying an additional 1,352 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Jefferies Financial Group reduced their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, UBS Group upped their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.23.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 0.3 %

Shares of NYSE USB traded up $0.12 during midday trading on Tuesday, hitting $45.49. The stock had a trading volume of 4,263,311 shares, compared to its average volume of 8,528,000. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88. The company has a market capitalization of $70.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 4.39 and a beta of 1.04. The company has a fifty day moving average price of $40.82 and a 200 day moving average price of $41.53.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company posted $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.31%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.