Interval Partners LP Invests $50.66 Million in U.S. Bancorp $USB

Interval Partners LP acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 949,455 shares of the financial services provider’s stock, valued at approximately $50,663,000. U.S. Bancorp makes up approximately 0.9% of Interval Partners LP’s holdings, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Norges Bank acquired a new position in shares of U.S. Bancorp during the fourth quarter worth about $1,887,497,000. Capital Research Global Investors acquired a new position in shares of U.S. Bancorp during the fourth quarter worth about $296,377,000. SG Americas Securities LLC grew its position in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after buying an additional 4,210,676 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after buying an additional 4,153,080 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of U.S. Bancorp by 63.2% during the fourth quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock worth $505,866,000 after buying an additional 3,672,742 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

USB stock opened at $57.81 on Thursday. The business has a 50 day moving average price of $55.55 and a 200 day moving average price of $54.77. The stock has a market cap of $89.67 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.06 and a beta of 0.97. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s payout ratio is currently 43.61%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

Key Headlines Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp announced a quarterly dividend of $0.52 per share, reinforcing its appeal as an income stock and signaling continued capital returns to shareholders. U.S. Bancorp Announces Quarterly Dividends
• Positive Sentiment: Analyst and commentary pieces highlighted USB as a top dividend stock and a value play versus Northern Trust, which can support investor interest if the market continues to favor banks with steady payouts and reasonable valuations. U.S. Bancorp (USB) is a Top Dividend Stock Right Now: Should You Buy? USB or NTRS: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: U.S. Bancorp named Brian Mauney as head of investor relations and appointed Daniel Farley as chief investment officer for its Wealth Management Asset Management Group, both of which are routine management moves with limited immediate earnings impact. U.S. Bancorp Names Brian Mauney Head of Investor Relations U.S. Bank Wealth Management Appoints Daniel Farley Chief Investment Officer
• Negative Sentiment: A DCF analysis from GuruFocus estimated USB’s intrinsic value at about $55 versus a recent share price near $58, suggesting the stock may be trading above fair value and limiting upside in the near term. USB DCF Analysis: Intrinsic Value $55 vs Price $58

Analyst Upgrades and Downgrades

USB has been the subject of a number of analyst reports. Stephens initiated coverage on U.S. Bancorp in a research report on Monday. They set an “equal weight” rating and a $63.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. Oppenheimer boosted their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.