Busey Bank Decreases Stake in U.S. Bancorp $USB

Key Points

• Busey Bank has reduced its stake in U.S. Bancorp by 4.5%, now holding 163,420 shares valued at approximately $7.4 million.
• U.S. Bancorp's recent earnings report revealed an earnings per share of $1.11, surpassing estimates, alongside a revenue growth of 2.0% year-over-year.
• U.S. Bancorp announced an increase in its quarterly dividend to $0.52 per share, representing a 4.1% yield annually, effective for shareholders recorded by September 30th.

Busey Bank cut its stake in U.S. Bancorp (NYSE:USB - Free Report) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,420 shares of the financial services provider's stock after selling 7,693 shares during the quarter. Busey Bank's holdings in U.S. Bancorp were worth $7,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. Amundi lifted its holdings in U.S. Bancorp by 2.2% during the first 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 lifted its holdings in U.S. Bancorp by 3.6% during the first 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 lifted its holdings in U.S. Bancorp by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock valued at $535,312,000 after purchasing an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in U.S. Bancorp by 10.5% during the first 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley upped their price objective on 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 boosted their price objective 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. The Goldman Sachs Group boosted 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. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $52.88.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Down 1.7%

Shares of USB stock traded down $0.87 during mid-day trading on Monday, hitting $49.54. 7,669,906 shares of the stock traded hands, compared to its average volume of 10,544,239. The stock has a market cap of $77.09 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.58 and a beta of 1.05. The stock's fifty day moving average is $47.06 and its two-hundred day moving average is $44.13. 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 current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS 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 analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid 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 of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio is 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.