Carlson Capital L.P. Sells 18,600 Shares of U.S. Bancorp $USB

Key Points

• Carlson Capital L.P. significantly reduced its stake in U.S. Bancorp by 63.3%, selling 18,600 shares and now holding 10,800 shares valued at approximately $456,000.
• Various institutional investors are adjusting their holdings, with Truvestments Capital LLC increasing its stake by 434.5% and CreativeOne Wealth LLC boosting theirs by 105.2%.
• U.S. Bancorp reported a quarterly earnings per share of $1.11, exceeding analysts' expectations and announced a quarterly dividend of $0.50 per share, representing a yield of 4.1%.

Carlson Capital L.P. reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 63.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,800 shares of the financial services provider's stock after selling 18,600 shares during the quarter. U.S. Bancorp accounts for approximately 0.2% of Carlson Capital L.P.'s holdings, making the stock its 27th biggest position. Carlson Capital L.P.'s holdings in U.S. Bancorp were worth $456,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Truvestments Capital LLC grew its stake in shares of U.S. Bancorp by 434.5% during the 1st quarter. Truvestments Capital LLC now owns 1,470 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 1,195 shares during the period. Wealth Preservation Advisors LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $223,000. CreativeOne Wealth LLC boosted its stake in shares of U.S. Bancorp by 105.2% in the first quarter. CreativeOne Wealth LLC now owns 51,068 shares of the financial services provider's stock worth $2,156,000 after acquiring an additional 26,178 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of U.S. Bancorp by 8.4% in the first quarter. Epoch Investment Partners Inc. now owns 1,809,191 shares of the financial services provider's stock worth $76,384,000 after acquiring an additional 140,806 shares during the period. Finally, Harvest Portfolios Group Inc. boosted its stake in shares of U.S. Bancorp by 20.2% in the first quarter. Harvest Portfolios Group Inc. now owns 146,242 shares of the financial services provider's stock worth $6,174,000 after acquiring an additional 24,540 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USB. Truist Financial upped their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Evercore ISI lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Finally, TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. One 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. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Trading Up 0.4%

Shares of NYSE:USB traded up $0.20 during trading on Friday, reaching $48.87. The company's stock had a trading volume of 12,069,872 shares, compared to its average volume of 7,839,136. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm's 50 day simple moving average is $46.25 and its two-hundred day simple moving average is $43.85. The stock has a market capitalization of $76.05 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

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 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is presently 47.85%.

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.