U.S. Bancorp (NYSE:USB) Shares Acquired by DRW Securities LLC

by · The Cerbat Gem

DRW Securities LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 987.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,843 shares of the financial services provider’s stock after acquiring an additional 93,385 shares during the period. DRW Securities LLC’s holdings in U.S. Bancorp were worth $4,701,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC raised its position in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.1 %

USB opened at $52.49 on Monday. The business’s fifty day moving average is $47.63 and its two-hundred day moving average is $44.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $81.89 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.10 and a beta of 1.02. U.S. Bancorp has a one year low of $36.49 and a one year high of $52.69.

U.S. Bancorp (NYSE:USB – Get Free Report) last posted its 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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.05 earnings per share. Analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has approved a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on USB shares. Stephens lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer lifted their price target on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.02.

Read Our Latest Stock Report on U.S. Bancorp

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).