Quantbot Technologies LP Sells 485,858 Shares of U.S. Bancorp $USB

Quantbot Technologies LP trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 61.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,590 shares of the financial services provider’s stock after selling 485,858 shares during the period. Quantbot Technologies LP’s holdings in U.S. Bancorp were worth $13,783,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of USB. IMG Wealth Management Inc. bought a new position in U.S. Bancorp during the second quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $27,000. Saudi Central Bank bought a new position in shares of U.S. Bancorp during the 1st quarter worth about $26,000. Pineridge Advisors LLC boosted its position in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 522 shares in the last quarter. Finally, Activest Wealth Management grew its stake in shares of U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after buying an additional 728 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.7%

U.S. Bancorp stock opened at $49.41 on Tuesday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.50. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $47.48 and its 200 day simple moving average is $46.55. The stock has a market cap of $76.81 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm 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. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. This is an increase 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 47.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USB. DA Davidson upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

Insider Buying and Selling at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated 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 transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by 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.