Headlands Technologies LLC Takes Position in U.S. Bancorp (NYSE:USB)

Headlands Technologies LLC bought a new stake in U.S. Bancorp (NYSE:USB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,865 shares of the financial services provider’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $30,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $31,000. Eagle Bay Advisors LLC raised its holdings in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. Finally, Crewe Advisors LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $39,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.8 %

Shares of USB stock opened at $44.62 on Friday. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The stock has a market cap of $69.63 billion, a P/E ratio of 14.77, a P/E/G ratio of 4.36 and a beta of 1.04. The business has a fifty day simple moving average of $43.93 and a 200-day simple moving average of $42.19. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. On average, analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Citigroup raised their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Morgan Stanley boosted their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.18.

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.