11,255 Shares in U.S. Bancorp $USB Bought by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC purchased 11,255 shares of U.S. Bancorp valued at approximately $481,000 in the first quarter, reflecting ongoing interest from institutional investors.
• U.S. Bancorp recently announced an increase in its quarterly dividend to $0.52 per share, up from $0.50, with a dividend yield of 4.2%.
• Analyst ratings for U.S. Bancorp show a consensus of "Moderate Buy" with a target price increase to $52.55, following several upgrades from various financial firms.

SCS Capital Management LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,255 shares of the financial services provider's stock, valued at approximately $481,000.

A number of other hedge funds have also recently made changes to their positions in USB. Brighton Jones LLC boosted its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after buying an additional 36,863 shares during the last quarter. CoreCap Advisors LLC boosted its position in U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after purchasing an additional 242 shares in the last quarter. Gotham Asset Management LLC boosted its position in U.S. Bancorp by 0.9% during the fourth quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider's stock worth $1,564,000 after purchasing an additional 281 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in U.S. Bancorp by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 64,965 shares of the financial services provider's stock worth $3,107,000 after purchasing an additional 10,882 shares in the last quarter. Finally, NorthRock Partners LLC boosted its position in U.S. Bancorp by 230.7% during the fourth quarter. NorthRock Partners LLC now owns 42,767 shares of the financial services provider's stock worth $2,046,000 after purchasing an additional 29,835 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent analyst reports. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Evercore ISI increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Truist Financial raised their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group raised their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $49.33 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $76.77 billion, a PE ratio of 11.80, a P/E/G ratio of 1.54 and a beta of 1.05. The stock has a 50 day moving average price of $46.82 and a 200 day moving average price of $43.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. U.S. Bancorp's payout ratio is presently 47.85%.

U.S. Bancorp Company Profile

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.

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