92,960 Shares in U.S. Bancorp $USB Bought by CTC Alternative Strategies Ltd.

Key Points

• CTC Alternative Strategies Ltd. has acquired 92,960 shares of U.S. Bancorp, valued at approximately $3.9 million, making it the firm's 4th largest holding.
• A round of recent upgrades from analysts has led to a price target increase for U.S. Bancorp, with a consensus rating of "Moderate Buy" and a target price of $52.55.
• U.S. Bancorp announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.1%.

CTC Alternative Strategies Ltd. bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 92,960 shares of the financial services provider's stock, valued at approximately $3,925,000. U.S. Bancorp accounts for 4.8% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank purchased a new position in U.S. Bancorp during the first quarter valued at $26,000. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the first quarter valued at $27,000. YANKCOM Partnership raised 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 valued at $29,000 after buying an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in U.S. Bancorp during the first quarter valued at $30,000. Finally, REAP Financial Group LLC raised 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 valued at $31,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

NYSE USB traded down $0.19 during trading hours on Friday, hitting $49.13. The company's stock had a trading volume of 8,103,162 shares, compared to its average volume of 8,405,860. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company's 50 day simple moving average is $46.85 and its two-hundred day simple moving average is $44.00. The company has a market cap of $76.46 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. 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 data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the company earned $0.98 EPS. U.S. Bancorp's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 annualized dividend and a dividend yield of 4.2%. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction 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 completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on USB. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Oppenheimer lifted their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Citigroup lifted their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price 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.