Candriam S.C.A. Boosts Holdings in U.S. Bancorp $USB

Key Points

• Candriam S.C.A. significantly increased its holdings in U.S. Bancorp by 124.5% during the first quarter, resulting in ownership of 354,385 shares valued at nearly $15 million.
• Several research firms have recently upgraded U.S. Bancorp's stock rating, with targets increasing up to $57.00, indicating strong investor confidence.
• U.S. Bancorp announced a quarterly dividend of $0.50, reflecting a 4.3% dividend yield and a dividend payout ratio of 47.85%.

Candriam S.C.A. lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 124.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 354,385 shares of the financial services provider's stock after acquiring an additional 196,548 shares during the period. Candriam S.C.A.'s holdings in U.S. Bancorp were worth $14,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Wesbanco Bank Inc. boosted its holdings in U.S. Bancorp by 31.6% during the first 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 last quarter. Crestwood Advisors Group LLC boosted its holdings in 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 purchasing an additional 649 shares during the last quarter. Becker Capital Management Inc. boosted its holdings in U.S. Bancorp by 1.5% during the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after purchasing an additional 8,204 shares during the last quarter. United Community Bank boosted its holdings in U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in U.S. Bancorp by 9.2% during the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock worth $27,585,000 after purchasing an additional 55,054 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Citigroup boosted their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI boosted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Cowen assumed coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $2.0710 during midday trading on Friday, reaching $48.2410. 12,678,587 shares of the stock were exchanged, compared to its average volume of 7,768,210. The company's fifty day moving average is $45.70 and its 200-day moving average is $43.80. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $75.07 billion, a PE ratio of 11.54, a PEG ratio of 1.51 and a beta of 1.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion for 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%. U.S. Bancorp's revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current 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 dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.1%. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insiders Place Their Bets

In other U.S. Bancorp 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 transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by 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.