Quantitative Investment Management LLC Acquires New Position in U.S. Bancorp (USB)

Quantitative Investment Management LLC Acquires New Position in U.S. Bancorp (USB)

Quantitative Investment Management LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the third quarter, Holdings Channel reports. The fund acquired 334,900 shares of the financial services provider’s stock, valued at approximately $14,363,000.

A number of other large investors have also modified their holdings of USB. Massachusetts Financial Services Co. MA boosted its stake in shares of U.S. Bancorp by 19.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 34,933,283 shares of the financial services provider’s stock worth $1,408,860,000 after buying an additional 5,736,183 shares during the last quarter. American Century Companies Inc. boosted its stake in U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock valued at $415,828,000 after buying an additional 5,326,919 shares in the last quarter. Bank of Montreal Can boosted its stake in U.S. Bancorp by 117.4% in the third quarter. Bank of Montreal Can now owns 4,657,459 shares of the financial services provider’s stock valued at $199,759,000 after buying an additional 2,515,329 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in U.S. Bancorp by 111.3% in the second quarter. Canada Pension Plan Investment Board now owns 2,702,320 shares of the financial services provider’s stock valued at $108,985,000 after buying an additional 1,423,176 shares in the last quarter. Finally, Davis Selected Advisers boosted its stake in U.S. Bancorp by 107.2% in the second quarter. Davis Selected Advisers now owns 2,231,625 shares of the financial services provider’s stock valued at $90,001,000 after buying an additional 1,154,676 shares in the last quarter. 73.29% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp (NYSE:USB) opened at 52.99 on Friday. The stock has a market cap of $89.92 billion, a price-to-earnings ratio of 16.35 and a beta of 0.84. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $53.14. The company has a 50-day moving average of $51.67 and a 200 day moving average of $46.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. U.S. Bancorp had a return on equity of 13.88% and a net margin of 25.89%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Equities analysts anticipate that U.S. Bancorp will post $3.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, December 28th. This represents a $1.12 annualized dividend and a yield of 2.11%. U.S. Bancorp’s payout ratio is presently 34.46%.

USB has been the topic of several analyst reports. Wedbush initiated coverage on shares of U.S. Bancorp in a research note on Thursday, October 6th. They set a “neutral” rating and a $46.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 20th. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. RBC Capital Markets reaffirmed an “outperform” rating and set a $48.00 price target (up from $47.00) on shares of U.S. Bancorp in a research note on Saturday, October 22nd. Finally, Morgan Stanley cut shares of U.S. Bancorp from an “equal weight” rating to an “underweight” rating and set a $49.00 price target on the stock. in a research note on Monday, November 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus target price of $47.35.

In other U.S. Bancorp news, Chairman Richard K. Davis sold 707,726 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $52.45, for a total transaction of $37,120,228.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew Cecere sold 83,781 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $44.80, for a total value of $3,753,388.80. Following the sale, the insider now owns 619,064 shares in the company, valued at approximately $27,734,067.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,409,330 shares of company stock worth $72,512,803. Corporate insiders own 0.68% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

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