DMC Group LLC Reduces Holdings in U.S. Bancorp $USB

Key Points

• DMC Group LLC has reduced its stake in U.S. Bancorp by 67.7%, resulting in ownership of 6,960 shares valued at approximately $315,000.
• Analysts have adjusted their price targets for U.S. Bancorp, with a consensus average target of $53.11 and ratings ranging from "Strong Buy" to "Sell".
• U.S. Bancorp announced an increase in its quarterly dividend to $0.52 per share, representing a 4.4% dividend yield and marking a boost from the previous dividend of $0.50.

DMC Group LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 67.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,960 shares of the financial services provider's stock after selling 14,581 shares during the quarter. DMC Group LLC's holdings in U.S. Bancorp were worth $315,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in U.S. Bancorp in the 1st quarter valued at about $26,000. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $27,000. YANKCOM Partnership boosted its position 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 acquiring an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC grew its stake in U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after acquiring an additional 420 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the stock an "equal weight" rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Citigroup increased their price target on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, UBS Group lifted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.11.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.52 on Wednesday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The business has a 50-day moving average of $47.67 and a 200-day moving average of $44.64. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.49 and a beta of 1.06.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The firm 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%.U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's payout ratio is currently 49.76%.

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.

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