Worldquant Millennium Quantitative Strategies LLC Takes Position in U.S. Bancorp (USB)
Worldquant Millennium Quantitative Strategies LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, Holdings Channel reports. The fund acquired 9,831 shares of the financial services provider’s stock, valued at approximately $492,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $131,487,000. Bank of New York Mellon Corp raised its stake in shares of U.S. Bancorp by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after purchasing an additional 2,071,326 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of U.S. Bancorp by 103.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,441,710 shares of the financial services provider’s stock worth $173,806,000 after purchasing an additional 1,751,500 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth $83,658,000. Finally, BTIM Corp. bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $78,408,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the business’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the sale, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.43% of the company’s stock.
Shares of U.S. Bancorp stock opened at $54.07 on Tuesday. U.S. Bancorp has a 52-week low of $48.49 and a 52-week high of $58.50. The stock has a market capitalization of $88.20 billion, a P/E ratio of 15.81, a PEG ratio of 1.78 and a beta of 0.98. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.83.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The business had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. sell-side analysts forecast that U.S. Bancorp will post 4.07 EPS for the current year.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Read More: Intrinsic Value and Stock Selection
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