Lighthouse Investment Partners LLC Raises Stake in U.S. Bancorp $USB

Lighthouse Investment Partners LLC raised its position in U.S. Bancorp (NYSE:USB) by 92.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,335 shares of the financial services provider’s stock after purchasing an additional 121,529 shares during the period. Lighthouse Investment Partners LLC’s holdings in U.S. Bancorp were worth $12,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of U.S. Bancorp during the second quarter worth $971,285,000. Arrowstreet Capital Limited Partnership raised its stake in U.S. Bancorp by 1,589.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after buying an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC raised its stake in U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after buying an additional 2,227,103 shares in the last quarter. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after buying an additional 2,038,996 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in U.S. Bancorp by 16.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock worth $560,559,000 after buying an additional 1,631,550 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $61.00 to $66.00 in a report on Thursday, February 26th. DA Davidson boosted their target price on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Finally, Oppenheimer raised their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Stock Down 0.9%

USB opened at $51.00 on Monday. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $79.17 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The business’s 50-day simple moving average is $55.86 and its 200-day simple moving average is $51.62.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.