Adage Capital Partners GP L.L.C. Acquires 96,200 Shares of U.S. Bancorp $USB

Key Points

• Adage Capital Partners has increased its stake in U.S. Bancorp by 7.3%, acquiring an additional 96,200 shares, bringing its total ownership to approximately 1.42 million shares valued at nearly $59.9 million.
• U.S. Bancorp reported a quarterly EPS of $1.11, exceeding analyst expectations, with revenue showing a 2% year-over-year increase to $7.06 billion.
• The company recently declared a quarterly dividend of $0.50 per share, indicating a yield of 4.1% based on an annualized rate.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,418,700 shares of the financial services provider's stock after acquiring an additional 96,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of U.S. Bancorp worth $59,898,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of USB. TrinityPoint Wealth LLC raised its holdings in shares of U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after acquiring an additional 231 shares during the period. CoreCap Advisors LLC raised its holdings in shares of 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 acquiring an additional 242 shares during the period. Bestgate Wealth Advisors LLC increased its stake in U.S. Bancorp by 3.3% in the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after buying an additional 253 shares during the last quarter. Atlantic Family Wealth LLC increased its stake in U.S. Bancorp by 4.2% in the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock valued at $266,000 after buying an additional 254 shares during the last quarter. Finally, YANKCOM Partnership increased its stake 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. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock traded down $0.36 during midday trading on Friday, hitting $48.81. 8,040,440 shares of the company were exchanged, compared to its average volume of 7,718,509. The firm has a market capitalization of $75.96 billion, a P/E ratio of 11.68, a PEG ratio of 1.53 and a beta of 1.05. 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 firm's 50 day moving average price is $46.63 and its two-hundred day moving average price is $43.89. 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 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.1%. U.S. Bancorp's payout ratio is presently 47.85%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on USB. Evercore ISI lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a research note on Monday, July 7th. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Truist Financial lifted their price objective on shares of 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, Citigroup lifted their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp 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.