Cinctive Capital Management LP Purchases Shares of 85,763 U.S. Bancorp (NYSE:USB)

Cinctive Capital Management LP purchased a new stake in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 85,763 shares of the financial services provider’s stock, valued at approximately $4,102,000.

A number of other hedge funds also recently modified their holdings of USB. Benjamin Edwards Inc. increased its stake in shares of U.S. Bancorp by 1,261.6% in the third quarter. Benjamin Edwards Inc. now owns 142,264 shares of the financial services provider’s stock valued at $6,506,000 after buying an additional 131,816 shares during the period. HighTower Advisors LLC boosted its holdings in U.S. Bancorp by 31.3% in the third quarter. HighTower Advisors LLC now owns 829,130 shares of the financial services provider’s stock valued at $37,930,000 after acquiring an additional 197,725 shares during the last quarter. Janus Henderson Group PLC increased its position in U.S. Bancorp by 229.5% during the 3rd quarter. Janus Henderson Group PLC now owns 845,686 shares of the financial services provider’s stock valued at $38,671,000 after purchasing an additional 588,999 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in U.S. Bancorp by 267.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,036 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 13,849 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its position in shares of U.S. Bancorp by 49.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 51,851 shares of the financial services provider’s stock worth $2,371,000 after purchasing an additional 17,200 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 3.1 %

NYSE USB opened at $43.05 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $67.07 billion, a P/E ratio of 11.36, a PEG ratio of 1.73 and a beta of 1.02. The business has a fifty day simple moving average of $45.36 and a 200 day simple moving average of $47.52. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Citigroup dropped their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $53.21.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

About U.S. Bancorp

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.