Abel Hall LLC Takes Position in U.S. Bancorp $USB

Key Points

• Abel Hall LLC has acquired a new stake in U.S. Bancorp, purchasing 6,573 shares valued at approximately $297,000.
• U.S. Bancorp recently announced a quarterly dividend increase to $0.52 per share, with a dividend yield of 4.4%.
• Analyst forecasts suggest positive growth for U.S. Bancorp, with Citi raising its target price for the stock from $59.00 to $65.00, indicating continued interest from various institutional investors.

Abel Hall LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,573 shares of the financial services provider's stock, valued at approximately $297,000.

A number of other hedge funds have also recently modified their holdings of USB. Saudi Central Bank bought a new position in U.S. Bancorp in the 1st quarter worth $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth $27,000. YANKCOM Partnership boosted its holdings in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the period. Alpine Bank Wealth Management bought a new position in U.S. Bancorp in the 1st quarter worth $30,000. Finally, Rakuten Securities Inc. boosted its holdings in U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after buying an additional 703 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 1.1%

USB opened at $47.00 on Thursday. The firm has a 50-day simple moving average of $47.69 and a two-hundred day simple moving average of $44.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $73.14 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

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

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent analyst reports. Citigroup upped their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an "equal weight" rating in a report on Monday, September 29th. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. UBS Group upped their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Oppenheimer dropped their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.11.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

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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