Alecta Tjanstepension Omsesidigt Sells 667,000 Shares of U.S. Bancorp $USB

Key Points

• Alecta Tjanstepension Omsesidigt sold 667,000 shares of U.S. Bancorp, reducing its holdings by 21.7%, resulting in ownership of approximately 2.41 million shares valued at $109.14 million.
• U.S. Bancorp experienced a positive change in its quarterly dividend, increasing from $0.50 to $0.52 per share, representing a 4.2% yield for shareholders.
• Analysts have upgraded U.S. Bancorp's ratings, with one analyst rating it as a Strong Buy and a consensus price target of $52.60.

Alecta Tjanstepension Omsesidigt trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,413,000 shares of the financial services provider's stock after selling 667,000 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.15% of U.S. Bancorp worth $109,140,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Saudi Central Bank bought a new position in shares of U.S. Bancorp in the 1st quarter valued at about $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp in the 1st quarter valued at about $27,000. REAP Financial Group LLC lifted its holdings in shares of U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 297 shares during the last quarter. YANKCOM Partnership lifted its holdings in shares of 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 acquiring an additional 260 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the 1st quarter valued at about $30,000. Institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of analyst reports. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Citigroup raised their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial boosted their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday. One equities 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.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $52.60.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $49.58 on Thursday. The firm has a market cap of $77.16 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.52 and a beta of 1.05. The company's 50 day moving average is $46.94 and its 200 day moving average is $44.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. 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 issued its quarterly earnings data 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 company had revenue of $7.06 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

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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