Point Nemo Capital LLC Purchases 23,253 Shares of U.S. Bancorp $USB

Point Nemo Capital LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,253 shares of the financial services provider’s stock, valued at approximately $1,343,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. StoneX Group Inc. boosted its stake in U.S. Bancorp by 2.4% in the third quarter. StoneX Group Inc. now owns 50,515 shares of the financial services provider’s stock valued at $2,944,000 after acquiring an additional 1,165 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of U.S. Bancorp by 17.5% during the third quarter. Pictet Asset Management Holding SA now owns 1,064,227 shares of the financial services provider’s stock worth $61,470,000 after purchasing an additional 158,338 shares in the last quarter. Parallel Advisors LLC increased its position in shares of U.S. Bancorp by 2.8% during the third quarter. Parallel Advisors LLC now owns 20,748 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 557 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of U.S. Bancorp by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 37,645 shares of the financial services provider’s stock worth $2,174,000 after purchasing an additional 1,082 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $5,426,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $59.49 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $59.65 and a 200 day moving average price of $58.18. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a market cap of $92.68 billion, a PE ratio of 11.60, a P/E/G ratio of 1.13 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. U.S. Bancorp’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.22 EPS. Sell-side analysts forecast that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.54 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group upped their target price on U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. DA Davidson reaffirmed a “buy” rating and set a $73.00 price target (up from $65.00) on shares of U.S. Bancorp in a research report on Friday, October 16th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Evercore reiterated an “outperform” rating and issued a $67.00 price objective (down from $72.00) on shares of U.S. Bancorp in a research note on Wednesday, October 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.65.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.