Qsemble Capital Management LP Purchases New Holdings in U.S. Bancorp (NYSE:USB)

Qsemble Capital Management LP purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,792 shares of the financial services provider’s stock, valued at approximately $1,619,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC boosted its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $31,000. Finally, Crewe Advisors LLC acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $39,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

USB stock opened at $43.85 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average price of $43.82 and a 200 day moving average price of $42.17. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The stock has a market capitalization of $68.43 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. Analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.56%. U.S. Bancorp’s payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Evercore ISI lifted their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Royal Bank of Canada boosted their target price on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.18.

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.