U.S. Bancorp (NYSE:USB) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in shares of U.S. Bancorp (NYSE:USB) by 267.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,036 shares of the financial services provider’s stock after purchasing an additional 13,849 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in U.S. Bancorp were worth $871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after acquiring an additional 2,821,642 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after acquiring an additional 2,046,522 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after purchasing an additional 1,847,000 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Down 1.6 %

U.S. Bancorp stock opened at $51.34 on Tuesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company’s fifty day moving average price is $49.24 and its two-hundred day moving average price is $44.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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 business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.90%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Stephens lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Piper Sandler lifted their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, DA Davidson increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.72.

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.