R Squared Ltd Has $320,000 Stake in U.S. Bancorp $USB

R Squared Ltd trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 70.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,064 shares of the financial services provider’s stock after selling 16,766 shares during the quarter. R Squared Ltd’s holdings in U.S. Bancorp were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the last quarter. Amundi lifted its holdings in shares of U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after buying an additional 422,050 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 3.6% during the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock valued at $628,614,000 after buying an additional 513,875 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of U.S. Bancorp by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock valued at $535,312,000 after buying an additional 104,185 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after purchasing an additional 1,045,509 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

USB has been the subject of several analyst reports. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Friday. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Truist Financial boosted their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Stock Up 1.0%

Shares of USB stock opened at $48.31 on Friday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market cap of $75.17 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. The stock has a 50 day moving average of $48.10 and a 200-day moving average of $45.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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 return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

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

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.