Y Intercept Hong Kong Ltd Raises Holdings in U.S. Bancorp $USB

Y Intercept Hong Kong Ltd grew its position in U.S. Bancorp (NYSE:USB) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,315 shares of the financial services provider’s stock after buying an additional 46,162 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in U.S. Bancorp were worth $8,928,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Banco Santander S.A. lifted its holdings in shares of U.S. Bancorp by 6.8% in the 4th quarter. Banco Santander S.A. now owns 7,648 shares of the financial services provider’s stock worth $408,000 after buying an additional 484 shares during the period. Gator Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth $323,000. Quadrant Capital Group LLC lifted its holdings in U.S. Bancorp by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 66,588 shares of the financial services provider’s stock worth $3,553,000 after buying an additional 210 shares during the period. Advisors Asset Management Inc. lifted its holdings in U.S. Bancorp by 9.6% during the fourth quarter. Advisors Asset Management Inc. now owns 51,752 shares of the financial services provider’s stock worth $2,761,000 after buying an additional 4,536 shares during the period. Finally, Empire Financial Management Company LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth $221,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction 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. This represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $58.90 on Friday. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The stock has a fifty day moving average price of $55.25 and a 200-day moving average price of $54.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $91.37 billion, a PE ratio of 12.35, a P/E/G ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

USB has been the subject of a number of analyst reports. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a report on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Thursday, April 16th. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Wall Street Zen lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.20.

About U.S. Bancorp

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.