Point72 Europe London LLP Invests $16.65 Million in U.S. Bancorp (NYSE:USB)

Point72 Europe London LLP bought a new position in U.S. Bancorp (NYSE:USB) in the second quarter, according to its most recent filing with the SEC. The firm bought 419,300 shares of the financial services provider’s stock, valued at approximately $16,646,000. U.S. Bancorp makes up 1.4% of Point72 Europe London LLP’s investment portfolio, making the stock its 17th largest position.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares during the period. Davis Selected Advisers boosted 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 last quarter. Bank of New York Mellon Corp grew its position in U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares during the period. Van ECK Associates Corp raised its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after buying an additional 271,078 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 0.3% in the 1st quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after buying an additional 23,826 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on USB. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. Evercore ISI lifted their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Morgan Stanley upped 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 report on Tuesday, July 30th. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Performance

NYSE USB opened at $45.63 on Wednesday. The stock has a fifty day simple moving average of $44.51 and a 200-day simple moving average of $42.34. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a market cap of $71.21 billion, a PE ratio of 15.11, a P/E/G ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.38%. The ex-dividend date is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.