Qsemble Capital Management LP Trims Stake in U.S. Bancorp $USB

Qsemble Capital Management LP trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,484 shares of the financial services provider’s stock after selling 37,822 shares during the quarter. U.S. Bancorp comprises about 0.7% of Qsemble Capital Management LP’s holdings, making the stock its 27th largest position. Qsemble Capital Management LP’s holdings in U.S. Bancorp were worth $8,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. State Street Corp grew its position in U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after buying an additional 648,943 shares in the last quarter. Davis Selected Advisers grew its position in U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after buying an additional 2,610,197 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in U.S. Bancorp by 7.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after buying an additional 1,189,525 shares in the last quarter. Finally, Northern Trust Corp grew its position in U.S. Bancorp by 1.1% during the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock worth $794,486,000 after buying an additional 172,645 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB opened at $53.15 on Friday. The stock has a 50-day moving average price of $53.91 and a 200-day moving average price of $53.39. U.S. Bancorp has a 12-month low of $42.21 and a 12-month high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $82.50 billion, a P/E ratio of 11.14, a PEG ratio of 0.96 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on USB shares. JPMorgan Chase & Co. reduced their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. DA Davidson restated a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Truist Financial reduced their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. Finally, Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.