Tidal Investments LLC Has $6.76 Million Stock Holdings in U.S. Bancorp $USB

Tidal Investments LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 14.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,909 shares of the financial services provider’s stock after acquiring an additional 14,065 shares during the quarter. Tidal Investments LLC’s holdings in U.S. Bancorp were worth $6,759,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after buying an additional 36,863 shares in the last quarter. Empowered Funds LLC raised its stake in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC lifted its holdings in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC bought a new position in U.S. Bancorp during the second quarter worth about $425,000. Finally, Nebula Research & Development LLC acquired a new position in U.S. Bancorp in the second quarter valued at about $701,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 20th. The shares were 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 $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the business’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 completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Stock Up 0.7%

USB stock 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 stock has a market capitalization of $97.94 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.12 and a beta of 0.95. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The business has a 50-day moving average of $63.20 and a 200-day moving average of $58.02.

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. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same quarter last year, the firm earned $1.11 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, September 30th. 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. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Analyst Ratings Changes

Several equities research analysts have issued reports on USB shares. Robert W. Baird increased their price target on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Stephens lifted their price objective on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Citigroup reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. Truist Financial raised their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.06.

About U.S. Bancorp

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.