E. Ohman J or Asset Management AB Has $2.88 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• E. Ohman J or Asset Management AB reduced its stake in U.S. Bancorp by 8.5%, holding $2.88 million worth of shares after selling 5,919 shares in the second quarter.
• U.S. Bancorp reported earnings of $1.11 per share, beating analysts' expectations, and announced an increase in its quarterly dividend to $0.52, reflecting a yield of 4.2%.
• Analysts have upgraded U.S. Bancorp’s stock ratings, with a consensus target price raised to $52.55, displaying a largely positive outlook from Wall Street.

E. Ohman J or Asset Management AB trimmed its position in U.S. Bancorp (NYSE:USB - Free Report) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,581 shares of the financial services provider's stock after selling 5,919 shares during the quarter. E. Ohman J or Asset Management AB's holdings in U.S. Bancorp were worth $2,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC lifted its stake in shares of U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after buying an additional 231 shares in the last quarter. Bestgate Wealth Advisors LLC raised its holdings in U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after acquiring an additional 253 shares during the period. Atlantic Family Wealth LLC lifted its position in shares of U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after acquiring an additional 254 shares in the last quarter. YANKCOM Partnership boosted its holdings in shares of U.S. Bancorp by 59.4% in 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 period. Finally, Plancorp LLC grew its position in shares of U.S. Bancorp by 0.6% in the first quarter. Plancorp LLC now owns 45,473 shares of the financial services provider's stock valued at $1,920,000 after purchasing an additional 260 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Truist Financial raised their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Evercore ISI upped 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. Finally, DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Stock Up 0.4%

Shares of NYSE:USB opened at $49.32 on Tuesday. The firm has a market capitalization of $76.75 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.54 and a beta of 1.05. 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 stock has a 50 day moving average price of $46.88 and a 200-day moving average price of $44.00. 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 released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share 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 analyst estimates 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 was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 4.2%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is 47.85%.

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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