Marshall Wace LLP Trims Stock Position in U.S. Bancorp $USB

Marshall Wace LLP trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,781,063 shares of the financial services provider’s stock after selling 1,519,270 shares during the quarter. U.S. Bancorp comprises about 0.5% of Marshall Wace LLP’s holdings, making the stock its 22nd largest position. Marshall Wace LLP owned 0.63% of U.S. Bancorp worth $442,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Andra AP fonden lifted its position in shares of U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after buying an additional 292,100 shares in the last quarter. Ally Financial Inc. increased its stake in U.S. Bancorp by 12.3% during the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 10,000 shares during the period. Jump Financial LLC boosted its position in shares of U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after acquiring an additional 799,368 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in U.S. Bancorp during the 1st quarter worth $428,000. Finally, Orion Capital Management LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $616,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.8%

USB opened at $51.36 on Friday. The business has a 50-day moving average of $47.57 and a 200-day moving average of $46.65. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $52.59. The company has a market capitalization of $79.83 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. UBS Group increased their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Citigroup increased their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Oppenheimer dropped their price objective on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.45.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by company insiders.

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.