DRW Securities LLC Purchases Shares of 9,458 U.S. Bancorp (NYSE:USB)

DRW Securities LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,458 shares of the financial services provider’s stock, valued at approximately $375,000.

Several other hedge funds have also recently made changes to their positions in USB. Confluence Investment Management LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $92,192,000. National Bank of Canada FI boosted its position in U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after buying an additional 1,097,179 shares during the period. Clearbridge Investments LLC raised its position in U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after buying an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. raised its position in U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after buying an additional 925,073 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on USB shares. DA Davidson upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. The Goldman Sachs Group lowered their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup lifted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upped their target price on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, UBS Group raised their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Performance

USB opened at $45.86 on Tuesday. The firm’s fifty day simple moving average is $44.46 and its two-hundred day simple moving average is $42.33. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The company has a market cap of $71.56 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.36 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the company posted $1.12 EPS. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.