Baird Financial Group Inc. Lowers Holdings in U.S. Bancorp $USB

Key Points

• Baird Financial Group Inc. reduced its stake in U.S. Bancorp by 55.2%, selling 3,549,214 shares and retaining approximately 2.88 million shares valued at around $121.49 million.
• Several institutional investors have recently adjusted their positions in U.S. Bancorp, with notable increases from firms like YANKCOM Partnership and Cornerstone Planning Group, which reported percentage increases of 59.4% and 118.0%, respectively.
• U.S. Bancorp's latest earnings report showed an EPS of $1.11, exceeding analyst expectations, and the company announced a quarterly dividend of $0.50 per share, reflecting a yield of 4.1%.

Baird Financial Group Inc. decreased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 55.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,877,579 shares of the financial services provider's stock after selling 3,549,214 shares during the period. Baird Financial Group Inc. owned about 0.18% of U.S. Bancorp worth $121,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of USB. Wesbanco Bank Inc. increased its holdings in U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after purchasing an additional 78,146 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of U.S. Bancorp by 10.6% during the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after buying an additional 649 shares during the period. United Community Bank raised its holdings in U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after acquiring an additional 8,796 shares in the last quarter. Ally Financial Inc. raised its holdings in U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock valued at $3,842,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock worth $35,478,000 after acquiring an additional 799,368 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

USB traded down $0.35 during trading on Tuesday, hitting $48.48. 7,053,029 shares of the stock were exchanged, compared to its average volume of 10,537,113. 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 1-year low of $35.18 and a 1-year high of $53.98. The stock has a fifty day moving average price of $46.34 and a two-hundred day moving average price of $43.83. The firm has a market capitalization of $75.45 billion, a P/E ratio of 11.60, a PEG ratio of 1.53 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. The business had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Evercore ISI increased their target price 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. Cowen started coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. Oppenheimer increased their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.55.

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.