DRW Securities LLC Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

DRW Securities LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 987.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,843 shares of the financial services provider’s stock after buying an additional 93,385 shares during the period. DRW Securities LLC’s holdings in U.S. Bancorp were worth $4,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC raised its stake in U.S. Bancorp by 9.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 710 shares during the last quarter. SVB Wealth LLC raised its stake in U.S. Bancorp by 5.9% in the 1st quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 622 shares during the last quarter. Bayesian Capital Management LP acquired a new position in U.S. Bancorp in the 1st quarter valued at $1,471,000. Janus Henderson Group PLC raised its stake in U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Finally, Dynasty Wealth Management LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $292,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $52.49 on Monday. The business has a 50-day moving average of $47.63 and a 200 day moving average of $44.06. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $52.69. The stock has a market capitalization of $81.89 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the business posted $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Barclays raised their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.02.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.