Headlands Technologies LLC Takes Position in US Bancorp (NYSE:USB)

Headlands Technologies LLC bought a new stake in US Bancorp (NYSE:USB – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,865 shares of the financial services provider’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of US Bancorp in the first quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of US Bancorp in the first quarter valued at approximately $31,000. Eagle Bay Advisors LLC boosted its holdings in shares of US Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of US Bancorp in the second quarter valued at about $30,000. Finally, Crewe Advisors LLC purchased a new stake in shares of US Bancorp in the first quarter valued at about $39,000. 77.60% of shares are owned by hedge funds and other institutional investors.

US Bancorp trading up 1.8%

Shares of USB stock opened at $44.62 on Friday. US Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The stock has a market cap of $69.63 billion, a P/E ratio of 14.77, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a fifty day simple moving average of $43.93 and a 200 day simple moving average of $42.19. The company has a quick ratio of 0.80, a current ratio of 0.81, and a debt-to-equity ratio of 1.05.

US Bancorp (NYSE:USB – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. US Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. In the same quarter last year, the company earned $1.12 per share. On average, analysts expect that US Bancorp will post 3.87 earnings per share for the current fiscal year.

US Bancorp raises dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 4.48%. This is a positive change from US Bancorp’s previous quarterly dividend of $0.49. US Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

Insider activity at US Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is available via this link. Corporate insiders own 0.23% of the company’s shares.

The Wall Street analyst weighs in

USB has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of US Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a report on Thursday, June 27. Citigroup upped their target price on US Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. StockNews.com raised US Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut their price objective on US Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Finally, Morgan Stanley upped their target price on shares of US Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th . Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.18, based on data from MarketBeat.

Get the latest stock analysis on USB

About US Bancorp

(Free Report)

US Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, government entities and other financial institutions in the United States. It works through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; payment services; and the Treasury and Corporate Support segments.

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