U.S. Bancorp $USB Position Reduced by Alecta Tjanstepension Omsesidigt

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 lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 21.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,413,000 shares of the financial services provider's stock after selling 667,000 shares during the period. Alecta Tjanstepension Omsesidigt owned approximately 0.15% of U.S. Bancorp worth $109,140,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of U.S. Bancorp by 0.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 235,293 shares of the financial services provider's stock worth $10,647,000 after acquiring an additional 2,136 shares during the period. KMG Fiduciary Partners LLC increased its holdings in shares of U.S. Bancorp by 5.2% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 71,108 shares of the financial services provider's stock worth $3,218,000 after acquiring an additional 3,485 shares during the period. Signal Advisors Wealth LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $282,000. Sovran Advisors LLC increased its holdings in shares of U.S. Bancorp by 8.5% in the 2nd quarter. Sovran Advisors LLC now owns 8,397 shares of the financial services provider's stock worth $400,000 after acquiring an additional 655 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $425,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm'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 completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $0.13 during trading hours on Friday, hitting $50.34. 20,595,297 shares of the company's stock traded hands, compared to its average volume of 9,455,050. U.S. Bancorp has a 52 week low of $35.18 and a 52 week 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 company's fifty day simple moving average is $47.06 and its two-hundred day simple moving average is $44.14. The company has a market cap of $78.34 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed 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. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. U.S. Bancorp's payout ratio is 47.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Oppenheimer increased their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Morgan Stanley increased their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Evercore ISI increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Finally, Truist Financial increased their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.88.

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.