Oxford Asset Management LLP Boosts Stake in U.S. Bancorp (NYSE:USB)

Oxford Asset Management LLP grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 393.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,270 shares of the financial services provider’s stock after buying an additional 28,921 shares during the quarter. U.S. Bancorp accounts for about 0.9% of Oxford Asset Management LLP’s investment portfolio, making the stock its 11th biggest position. Oxford Asset Management LLP’s holdings in U.S. Bancorp were worth $1,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bolthouse Investments LLC bought a new position in U.S. Bancorp in the 4th quarter worth about $408,000. Johnson Financial Group Inc. grew its stake in U.S. Bancorp by 21.9% in the fourth quarter. Johnson Financial Group Inc. now owns 69,334 shares of the financial services provider’s stock worth $3,313,000 after purchasing an additional 12,451 shares in the last quarter. Capital Analysts LLC increased its holdings in U.S. Bancorp by 44.0% during the 4th quarter. Capital Analysts LLC now owns 2,763 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 844 shares during the period. Nebula Research & Development LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $290,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of U.S. Bancorp by 9.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 70,070 shares of the financial services provider’s stock worth $3,351,000 after buying an additional 5,877 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Piper Sandler dropped their target price on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. DA Davidson reduced their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James reiterated an “outperform” rating and issued a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $39.90 on Friday. The firm has a market cap of $62.16 billion, a PE ratio of 10.53, a P/E/G ratio of 1.73 and a beta of 0.91. The business has a 50-day moving average price of $41.71 and a 200 day moving average price of $46.59. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter last year, the company earned $0.78 EPS. Sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $559,800. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.