Avanza Fonder AB Has $4.68 Million Stock Position in U.S. Bancorp $USB

Key Points

• Avanza Fonder AB decreased its holdings in U.S. Bancorp by 12.7%, selling 15,055 shares, and now has 103,459 shares valued at approximately $4.68 million.
• Several other hedge funds, including Wesbanco Bank Inc. and Jump Financial LLC, significantly increased their positions in U.S. Bancorp during the last quarter, indicating a growing institutional interest in the stock.
• U.S. Bancorp announced a quarterly dividend increase to $0.52 per share, up from $0.50, reflecting a commitment to returning value to shareholders with a dividend yield of 4.1%.

Avanza Fonder AB decreased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 12.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,459 shares of the financial services provider's stock after selling 15,055 shares during the quarter. Avanza Fonder AB's holdings in U.S. Bancorp were worth $4,682,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of USB. Saudi Central Bank acquired a new stake in U.S. Bancorp during the first quarter worth about $26,000. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at about $27,000. REAP Financial Group LLC lifted its holdings 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 worth $31,000 after buying an additional 297 shares during the last quarter. YANKCOM Partnership boosted its position in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the first quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Down 1.7%

U.S. Bancorp stock traded down $0.87 during midday trading on Monday, reaching $49.54. 7,669,906 shares of the stock traded hands, compared to its average volume of 9,850,851. The company has a 50-day simple moving average of $47.11 and a two-hundred day simple moving average of $44.16. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. 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 cap of $77.09 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the company earned $0.98 earnings per share. The company'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. Research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared 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 represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is currently 47.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on USB. The Goldman Sachs Group upped their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup boosted their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley raised their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.88.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the 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 completion of the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.