U.S. Bancorp $USB Holdings Decreased by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 12.3% during the third quarter, Holdings Channel reports. The institutional investor owned 175,349 shares of the financial services provider’s stock after selling 24,651 shares during the period. Hudson Bay Capital Management LP’s holdings in U.S. Bancorp were worth $8,475,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Chemung Canal Trust Co. boosted its stake in U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares in the last quarter. Citigroup Inc. raised its position in U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp raised its position in U.S. Bancorp by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after acquiring an additional 47,537 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in U.S. Bancorp by 757.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after acquiring an additional 155,925 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Evercore lifted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Barclays raised their target price on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. JPMorgan Chase & Co. upped their price target on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a report on Monday, February 9th. Finally, UBS Group reiterated a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.02.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $51.28 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19. The firm’s 50 day simple moving average is $55.44 and its 200-day simple moving average is $51.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $79.60 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.87 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.52 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

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.