Holocene Advisors LP Makes New $43.52 Million Investment in U.S. Bancorp (NYSE:USB)

Holocene Advisors LP bought a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, Holdings Channel reports. The institutional investor bought 951,704 shares of the financial services provider’s stock, valued at approximately $43,521,000.

Other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC grew its stake in shares of U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp in the 2nd quarter worth about $20,188,000. M&G Plc lifted its position in shares of 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 worth $12,570,000 after buying an additional 133,498 shares in the last quarter. Summit Financial Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $4,505,000. Finally, Callan Family Office LLC grew its holdings in shares of U.S. Bancorp by 15.4% in the third quarter. Callan Family Office LLC now owns 6,195 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 829 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $52.76 on Tuesday. The firm has a 50 day moving average of $48.44 and a 200-day moving average of $44.48. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $82.31 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business earned $1.05 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a 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. Oppenheimer boosted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.02.

U.S. Bancorp Company 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.