Y Intercept Hong Kong Ltd Grows Stock Position in U.S. Bancorp $USB

Y Intercept Hong Kong Ltd raised its position in U.S. Bancorp (NYSE:USB) by 81.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,263 shares of the financial services provider’s stock after buying an additional 123,426 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in U.S. Bancorp were worth $12,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp lifted its holdings in U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 222 shares during the last quarter. Mechanics Financial Corp raised its position in shares of U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares during the period. Northern Financial Advisors Inc raised its position in shares of U.S. Bancorp by 5.0% in the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 241 shares during the period. Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 249 shares in the last quarter. Finally, Gallagher Capital Advisors LLC boosted its holdings in U.S. Bancorp by 1.5% in the 2nd quarter. Gallagher Capital Advisors LLC now owns 16,795 shares of the financial services provider’s stock worth $773,000 after buying an additional 249 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on USB shares. The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Truist Financial boosted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. TD Cowen lifted their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Stock Up 1.0%

Shares of USB opened at $48.31 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock has a 50 day simple moving average of $48.10 and a two-hundred day simple moving average of $45.23. The firm has a market cap of $75.17 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.29 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

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.