Arrowstreet Capital Limited Partnership Sells 197,180 Shares of U.S. Bancorp $USB

Arrowstreet Capital Limited Partnership reduced its stake in U.S. Bancorp (NYSE:USB) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,881,172 shares of the financial services provider’s stock after selling 197,180 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in U.S. Bancorp were worth $207,099,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in USB. Paulson Wealth Management Inc. increased its holdings in U.S. Bancorp by 2.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after buying an additional 173 shares during the period. Gilbert & Cook Inc. boosted its stake in U.S. Bancorp by 1.2% in the fourth quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 184 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in U.S. Bancorp by 1.4% in the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 186 shares in the last quarter. Genesis Private Wealth LLC boosted its stake in U.S. Bancorp by 2.3% in the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 187 shares in the last quarter. Finally, Richmond Investment Services LLC lifted its stake in shares of U.S. Bancorp by 1.9% during the fourth quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock worth $539,000 after buying an additional 192 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Down 0.1%

Shares of NYSE USB opened at $58.90 on Monday. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The stock has a market cap of $91.37 billion, a PE ratio of 12.35, a P/E/G ratio of 1.07 and a beta of 0.97. 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 company has a 50-day moving average of $55.25 and a 200 day moving average of $54.58.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter in the prior year, the company earned $1.03 EPS. U.S. Bancorp’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 5.07 EPS for the current fiscal year.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’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 transaction of $1,916,661.44. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.