Engineers Gate Manager LP Grows Stake in U.S. Bancorp $USB

Engineers Gate Manager LP lifted its position in U.S. Bancorp (NYSE:USB) by 373.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 893,655 shares of the financial services provider’s stock after purchasing an additional 704,847 shares during the period. Engineers Gate Manager LP’s holdings in U.S. Bancorp were worth $47,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $1,887,497,000. Capital Research Global Investors bought a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $296,377,000. SG Americas Securities LLC raised its position in U.S. Bancorp by 3,451.9% in the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after acquiring an additional 4,210,676 shares during the period. Price T Rowe Associates Inc. MD raised its position in U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after acquiring an additional 4,153,080 shares during the period. Finally, Victory Capital Management Inc. raised its position in U.S. Bancorp by 63.2% in the fourth quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock worth $505,866,000 after acquiring an additional 3,672,742 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp announced a quarterly dividend of $0.52 per share, reinforcing its appeal as an income stock and signaling continued capital returns to shareholders. U.S. Bancorp Announces Quarterly Dividends
• Positive Sentiment: Analyst and commentary pieces highlighted USB as a top dividend stock and a value play versus Northern Trust, which can support investor interest if the market continues to favor banks with steady payouts and reasonable valuations. U.S. Bancorp (USB) is a Top Dividend Stock Right Now: Should You Buy? USB or NTRS: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: U.S. Bancorp named Brian Mauney as head of investor relations and appointed Daniel Farley as chief investment officer for its Wealth Management Asset Management Group, both of which are routine management moves with limited immediate earnings impact. U.S. Bancorp Names Brian Mauney Head of Investor Relations U.S. Bank Wealth Management Appoints Daniel Farley Chief Investment Officer
• Negative Sentiment: A DCF analysis from GuruFocus estimated USB’s intrinsic value at about $55 versus a recent share price near $58, suggesting the stock may be trading above fair value and limiting upside in the near term. USB DCF Analysis: Intrinsic Value $55 vs Price $58

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on 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 in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on USB shares. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Barclays increased their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Truist Financial decreased their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Finally, Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.29.

U.S. Bancorp Stock Performance

NYSE USB opened at $57.81 on Thursday. The firm has a market cap of $89.67 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $55.55 and a 200-day moving average price of $54.77. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that U.S. Bancorp will post 5.07 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio is 43.61%.

U.S. Bancorp Profile

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.