APG Asset Management N.V. Sells 82,838 Shares of U.S. Bancorp $USB

Key Points

• APG Asset Management N.V. reduced its stake in U.S. Bancorp by 7.6%, now holding approximately 1,012,815 shares worth $39.6 million as of its latest filing.
• Multiple hedge funds have adjusted their positions in U.S. Bancorp, with Vanguard Group Inc. increasing its holdings by 1.7%, now owning over 141 million shares valued at nearly $6 billion.
• U.S. Bancorp's stock currently has a Moderate Buy rating with a target price of $52.55, after recent upgrades from several analysts including Citigroup and Oppenheimer.

APG Asset Management N.V. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,012,815 shares of the financial services provider's stock after selling 82,838 shares during the period. APG Asset Management N.V. owned approximately 0.07% of U.S. Bancorp worth $39,586,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at $27,000. REAP Financial Group LLC boosted its stake in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. YANKCOM Partnership boosted its stake in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the 1st quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its stake in U.S. Bancorp by 1,212.1% during the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 703 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on USB. Oppenheimer increased their target price on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial increased their price target on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. The Goldman Sachs Group increased their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.55.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction 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 of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.44 during mid-day trading on Tuesday, hitting $48.60. 9,279,967 shares of the company traded hands, compared to its average volume of 8,044,219. 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 stock's fifty day moving average price is $45.92 and its 200-day moving average price is $43.82. The firm has a market cap of $75.63 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

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 analysts' consensus estimates 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 return on equity of 13.08% and a net margin of 16.30%.The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

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.