Marshall Wace LLP Has $89.85 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Marshall Wace LLP lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 1,438.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,263,296 shares of the financial services provider’s stock after buying an additional 2,116,175 shares during the period. Marshall Wace LLP’s holdings in U.S. Bancorp were worth $89,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in U.S. Bancorp by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock valued at $670,000 after buying an additional 593 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of U.S. Bancorp by 5.6% during the 4th quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 592 shares during the last quarter. TrinityPoint Wealth LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $308,000. Congress Wealth Management LLC DE acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $491,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $218,000. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USB. Evercore ISI lifted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. UBS Group lifted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. DA Davidson upped their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley raised their price target on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.18.

U.S. Bancorp Stock Down 0.5 %

USB opened at $45.63 on Wednesday. The company has a market capitalization of $71.20 billion, a P/E ratio of 15.11, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s fifty day moving average price is $44.51 and its two-hundred day moving average price is $42.34. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31.

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

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s payout ratio is presently 66.23%.

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.