U.S. Bancorp (NYSE:USB) Shares Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. increased its position in U.S. Bancorp (NYSE:USB) by 544.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,894 shares of the financial services provider’s stock after buying an additional 11,737 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in U.S. Bancorp were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of USB. FMR LLC grew its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Davis Selected Advisers grew its holdings in U.S. Bancorp by 0.3% in the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 43,437 shares during the period. Bank of New York Mellon Corp grew its holdings in U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after purchasing an additional 94,841 shares during the period. Finally, Legal & General Group Plc grew its holdings in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.4 %

USB stock opened at $53.29 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a fifty-two week low of $37.67 and a fifty-two week high of $53.98. The firm’s 50-day simple moving average is $48.44 and its 200 day simple moving average is $44.48. The stock has a market cap of $83.13 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 3.14 and a beta of 1.02.

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

U.S. Bancorp announced that its board has approved a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were 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 in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on shares of 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. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.02.

U.S. Bancorp Company 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.