Point72 Europe London LLP Has $15.44 Million Position in U.S. Bancorp (NYSE:USB)

Point72 Europe London LLP lessened its position in U.S. Bancorp (NYSE:USB) by 19.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,600 shares of the financial services provider’s stock after selling 81,700 shares during the period. U.S. Bancorp accounts for about 1.0% of Point72 Europe London LLP’s portfolio, making the stock its 23rd biggest holding. Point72 Europe London LLP’s holdings in U.S. Bancorp were worth $15,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC increased its stake in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.4 %

USB stock opened at $53.29 on Friday. U.S. Bancorp has a twelve month low of $37.67 and a twelve month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $48.44 and its 200-day moving average is $44.44. The firm has a market capitalization of $83.13 billion, a PE ratio of 16.30, a P/E/G ratio of 3.15 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent research reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Oppenheimer increased their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays raised their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.02.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.