WINTON GROUP Ltd Makes New Investment in U.S. Bancorp $USB

WINTON GROUP Ltd purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,300 shares of the financial services provider’s stock, valued at approximately $2,555,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Engineers Gate Manager LP increased its position in shares of U.S. Bancorp by 39.0% during the second quarter. Engineers Gate Manager LP now owns 525,136 shares of the financial services provider’s stock worth $31,718,000 after acquiring an additional 147,465 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of U.S. Bancorp by 11.5% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 12,594 shares of the financial services provider’s stock valued at $761,000 after purchasing an additional 1,295 shares during the last quarter. NorthRock Partners LLC lifted its position in shares of U.S. Bancorp by 1.3% in the second quarter. NorthRock Partners LLC now owns 27,670 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 351 shares in the last quarter. Arizona State Retirement System boosted its holdings in U.S. Bancorp by 1.1% during the second quarter. Arizona State Retirement System now owns 430,720 shares of the financial services provider’s stock worth $26,015,000 after purchasing an additional 4,833 shares during the last quarter. Finally, Waverly Advisors LLC grew its position in U.S. Bancorp by 2.6% in the second quarter. Waverly Advisors LLC now owns 84,243 shares of the financial services provider’s stock valued at $5,088,000 after purchasing an additional 2,128 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $62.86 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $97.94 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 1.11 and a beta of 0.95. The stock’s fifty day moving average price is $63.20 and its two-hundred day moving average price is $58.02. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

A number of research firms have recently commented on USB. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Finally, Barclays upped their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE:USB) is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.