Polar Asset Management Partners Inc. Invests $8.30 Million in U.S. Bancorp $USB

Polar Asset Management Partners Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 159,537 shares of the financial services provider’s stock, valued at approximately $8,298,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after buying an additional 1,828,404 shares during the period. State Street Corp boosted its position in shares of U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after acquiring an additional 522,368 shares during the period. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after acquiring an additional 443,646 shares during the period. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $1,887,497,000. Finally, Auto Owners Insurance Co grew its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.1%

Shares of USB stock opened at $63.91 on Monday. The stock has a market cap of $99.14 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a one year low of $43.46 and a one year high of $64.84. The stock has a fifty day moving average price of $58.89 and a 200 day moving average price of $56.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $1.11 earnings per share. Analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is 41.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Stephens boosted their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Robert W. Baird boosted their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.