AQR Capital Management LLC Boosts Stock Position in U.S. Bancorp $USB

Key Points

• AQR Capital Management LLC increased its stake in U.S. Bancorp by 4.4% during Q1, holding $26.10 million worth of shares after acquiring an additional 26,442 shares.
• The company reported a 2.0% year-over-year increase in revenue, with earnings per share of $1.11 for the quarter, surpassing analysts' expectations by $0.04.
• U.S. Bancorp announced a quarterly dividend increase to $0.52, representing a 4.2% dividend yield, with the ex-dividend date set for September 30th.

AQR Capital Management LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 628,247 shares of the financial services provider's stock after acquiring an additional 26,442 shares during the period. AQR Capital Management LLC's holdings in U.S. Bancorp were worth $26,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. Amundi raised its position in U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. Davis Selected Advisers raised its position in U.S. Bancorp by 3.6% during the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after purchasing an additional 513,875 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in U.S. Bancorp by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock valued at $601,458,000 after purchasing an additional 1,339,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the business'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 transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.4%

Shares of NYSE:USB traded down $0.19 on Friday, reaching $49.13. The company had a trading volume of 8,103,162 shares, compared to its average volume of 8,405,860. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm's 50 day simple moving average is $46.85 and its 200-day simple moving average is $44.00. 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 firm has a market capitalization of $76.46 billion, a PE ratio of 11.75, a PEG ratio of 1.55 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm'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, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced 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 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 yield of 4.2%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on USB shares. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Oppenheimer lifted their target price on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Evercore ISI lifted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Truist Financial lifted 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. Finally, Morgan Stanley lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.55.

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.