Y Intercept Hong Kong Ltd Acquires 123,426 Shares of U.S. Bancorp $USB

Y Intercept Hong Kong Ltd grew its stake in U.S. Bancorp (NYSE:USB) by 81.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 274,263 shares of the financial services provider’s stock after buying an additional 123,426 shares during the period. Y Intercept Hong Kong Ltd’s holdings in U.S. Bancorp were worth $12,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. IMG Wealth Management Inc. purchased a new position in shares of U.S. Bancorp during the second quarter valued at about $25,000. Saudi Central Bank bought a new position in U.S. Bancorp during the first quarter valued at approximately $26,000. YANKCOM Partnership grew its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 420 shares during the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $37,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $48.31 on Monday. The firm’s 50 day simple moving average is $48.10 and its 200-day simple moving average is $45.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a one year low of $35.18 and a one year 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 1.29 and a beta of 1.06.

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

U.S. Bancorp Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America boosted their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. DA Davidson boosted their price objective 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. Oppenheimer decreased their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Truist Financial lifted 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, Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insider Buying and Selling at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’s 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 owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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.