Unigestion Holding SA Purchases New Position in U.S. Bancorp (NYSE:USB)

Unigestion Holding SA acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,110 shares of the financial services provider's stock, valued at approximately $600,000.

Several other large investors also recently modified their holdings of USB. FMR LLC grew its holdings in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider's stock valued at $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Marshall Wace LLP grew its stake in U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock worth $89,853,000 after purchasing an additional 2,116,175 shares during the period. National Bank of Canada FI increased its holdings 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 worth $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider's stock valued at $161,491,000 after buying an additional 1,847,000 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $0.22 during mid-day trading on Thursday, hitting $51.10. 7,565,279 shares of the stock were exchanged, compared to its average volume of 8,229,032. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a 50-day simple moving average of $49.52 and a 200 day simple moving average of $45.07. The company has a market capitalization of $79.72 billion, a P/E ratio of 15.69, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 3.91%. U.S. Bancorp's payout ratio is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. DA Davidson raised their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Piper Sandler raised their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Hold" and a consensus price target of $53.27.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

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.