Worldquant Millennium Advisors LLC Purchases 818,243 Shares of U.S. Bancorp (NYSE:USB)

Worldquant Millennium Advisors LLC boosted its position in U.S. Bancorp (NYSE:USB) by 147.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,371,454 shares of the financial services provider’s stock after acquiring an additional 818,243 shares during the period. Worldquant Millennium Advisors LLC’s holdings in U.S. Bancorp were worth $65,597,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in USB. Norges Bank bought a new position in U.S. Bancorp in the fourth quarter worth about $777,524,000. Invesco Ltd. raised its holdings in U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after purchasing an additional 5,449,949 shares in the last quarter. Marshall Wace LLP raised its holdings in U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after purchasing an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. bought a new position in U.S. Bancorp in the fourth quarter worth about $184,733,000. Finally, FMR LLC raised its holdings in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $44.76 on Tuesday. The business’s 50 day moving average price is $40.85 and its 200 day moving average price is $45.96. The firm has a market cap of $69.74 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp’s dividend payout ratio is presently 49.50%.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial reduced their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Raymond James restated an “outperform” rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Citigroup cut their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. DA Davidson cut their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.89.

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.