Aberdeen Group plc Acquires 67,544 Shares of U.S. Bancorp $USB

Key Points

• Aberdeen Group plc increased its stake in U.S. Bancorp by 6.1%, acquiring an additional 67,544 shares, bringing its total ownership to about 1,182,335 shares valued at approximately $53.5 million.
• Several brokerages have updated their price targets for U.S. Bancorp; notable adjustments include Citigroup raising their target to $65.00 while Morgan Stanley set a target of $56.00, reflecting mixed sentiment among analysts.
• U.S. Bancorp announced a quarterly dividend of $0.52 per share, up from its previous dividend, which contributes to a yield of 4.6% and highlights the company's commitment to returning value to shareholders.

Aberdeen Group plc raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,182,335 shares of the financial services provider's stock after buying an additional 67,544 shares during the period. Aberdeen Group plc owned about 0.08% of U.S. Bancorp worth $53,501,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of USB. Saudi Central Bank bought a new position in U.S. Bancorp in the 1st quarter valued at $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter valued at $27,000. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in U.S. Bancorp in the 1st quarter valued at $30,000. Finally, Cornerstone Planning Group LLC boosted its position in U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after buying an additional 420 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on USB. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the company an "equal weight" rating in a research report on Monday, September 29th. Oppenheimer cut their price target on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Truist Financial increased their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday, September 17th. Citigroup increased their price target on U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, DA Davidson increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $53.11.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.29 on Friday. The company has a market capitalization of $70.48 billion, a PE ratio of 10.83, a PEG ratio of 1.42 and a beta of 1.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock's fifty day simple moving average is $47.76 and its 200 day simple moving average is $44.69.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate 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 revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.6%. 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. U.S. Bancorp's dividend payout ratio (DPR) is 49.76%.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company's stock.

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.

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