SG Trading Solutions LLC Acquires New Holdings in U.S. Bancorp $USB

SG Trading Solutions LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, Holdings Channel reports. The fund bought 11,882 shares of the financial services provider’s stock, valued at approximately $634,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after buying an additional 522,368 shares in the last quarter. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after buying an additional 443,646 shares in the last quarter. Norges Bank bought a new stake in U.S. Bancorp during the fourth quarter valued at $1,887,497,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after buying an additional 4,153,080 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. Barclays upped their target price on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Stephens began coverage on U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.29.

U.S. Bancorp Trading Down 0.1%

Shares of USB stock opened at $58.07 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $55.69 and a two-hundred day moving average price of $54.86. U.S. Bancorp has a 12-month low of $42.93 and a 12-month high of $61.19. The firm has a market cap of $90.07 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Equities analysts anticipate that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on 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 owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company 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.