Channel Wealth LLC Takes Position in U.S. Bancorp $USB

Key Points

• Channel Wealth LLC has acquired a new stake in U.S. Bancorp, purchasing 6,045 shares valued at approximately $274,000 during the second quarter.
• U.S. Bancorp has seen significant institutional interest, with 77.60% of its stock owned by institutional investors and hedge funds, including new positions from Saudi Central Bank and Westend Capital Management.
• The company recently increased its quarterly dividend to $0.52 per share, reflecting a positive change and providing an annualized yield of 4.3%.

Channel Wealth LLC acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,045 shares of the financial services provider's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Saudi Central Bank purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at about $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership lifted its stake in 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 purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. Finally, REAP Financial Group LLC lifted its stake in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.59 on Thursday, reaching $50.20. The stock had a trading volume of 12,344,735 shares, compared to its average volume of 9,086,554. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The business's 50-day moving average price is $46.99 and its 200 day moving average price is $44.10. The stock has a market cap of $78.12 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp 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.