Headlands Technologies LLC Purchases Shares of 34,728 U.S. Bancorp $USB

Headlands Technologies LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 34,728 shares of the financial services provider’s stock, valued at approximately $2,098,000.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Quantitative Investment Management LLC raised its stake in shares of U.S. Bancorp by 239.3% in the second quarter. Quantitative Investment Management LLC now owns 25,044 shares of the financial services provider’s stock valued at $1,512,000 after purchasing an additional 17,663 shares in the last quarter. Wedbush Securities Inc. lifted its position in U.S. Bancorp by 6.1% in the second quarter. Wedbush Securities Inc. now owns 84,498 shares of the financial services provider’s stock worth $5,104,000 after purchasing an additional 4,825 shares during the period. Greenleaf Trust boosted its stake in U.S. Bancorp by 2.9% during the second quarter. Greenleaf Trust now owns 38,214 shares of the financial services provider’s stock worth $2,308,000 after buying an additional 1,080 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in U.S. Bancorp by 8.3% in the 2nd quarter. New Mexico Educational Retirement Board now owns 77,361 shares of the financial services provider’s stock valued at $4,673,000 after buying an additional 5,900 shares during the period. Finally, Mufg Securities Americas Inc. increased its holdings in U.S. Bancorp by 8.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 46,753 shares of the financial services provider’s stock valued at $2,824,000 after buying an additional 3,514 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $62.50 on Monday. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a 50 day moving average of $62.84 and a 200-day moving average of $57.73. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the business earned $1.11 EPS. On average, equities analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s payout ratio is currently 41.52%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on USB shares. JPMorgan Chase & Co. raised their price objective on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Jefferies Financial Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a research note on Monday, July 20th. Finally, Evercore raised U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Company 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.