Two Sigma Advisers LP Sells 250,000 Shares of U.S. Bancorp (NYSE:USB)

Two Sigma Advisers LP lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,017,600 shares of the financial services provider’s stock after selling 250,000 shares during the quarter. Two Sigma Advisers LP’s holdings in U.S. Bancorp were worth $46,535,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. Stevens Capital Management LP bought a new position in U.S. Bancorp during the 3rd quarter worth approximately $469,000. Quantinno Capital Management LP grew its position in U.S. Bancorp by 24.8% during the 3rd quarter. Quantinno Capital Management LP now owns 94,867 shares of the financial services provider’s stock worth $4,338,000 after acquiring an additional 18,842 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in shares of U.S. Bancorp by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 1,242,645 shares of the financial services provider’s stock valued at $56,826,000 after buying an additional 20,374 shares during the period. Finally, Prana Capital Management LP boosted its position in shares of U.S. Bancorp by 20.0% during the third quarter. Prana Capital Management LP now owns 2,585,692 shares of the financial services provider’s stock valued at $118,244,000 after purchasing an additional 431,389 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Finally, Piper Sandler boosted their price objective on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $52.72.

U.S. Bancorp Trading Up 0.1 %

NYSE USB opened at $52.15 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a 50-day simple moving average of $48.99 and a 200-day simple moving average of $44.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $81.36 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 3.07 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, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

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 issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

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.