Y Intercept Hong Kong Ltd Buys 5,881 Shares of U.S. Bancorp (NYSE:USB)

Y Intercept Hong Kong Ltd increased its stake in U.S. Bancorp (NYSE:USB) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,141 shares of the financial services provider’s stock after purchasing an additional 5,881 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in U.S. Bancorp were worth $2,567,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lantz Financial LLC raised its holdings in U.S. Bancorp by 4.7% during the 2nd quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after acquiring an additional 2,179 shares during the period. Wedmont Private Capital raised its holdings in U.S. Bancorp by 12.4% during the 2nd quarter. Wedmont Private Capital now owns 18,109 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 1,991 shares during the period. M&G Plc raised its holdings in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after acquiring an additional 133,498 shares during the period. Diversified Trust Co bought a new stake in U.S. Bancorp during the 2nd quarter valued at $735,000. Finally, Great Valley Advisor Group Inc. raised its holdings in U.S. Bancorp by 8.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 114,525 shares of the financial services provider’s stock valued at $4,547,000 after acquiring an additional 8,679 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $51.34 on Tuesday. The company has a 50-day simple moving average of $49.24 and a two-hundred day simple moving average of $44.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a market cap of $80.08 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.90%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Barclays boosted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.72.

About U.S. Bancorp

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.