Exchange Capital Management Inc. Trims Holdings in U.S. Bancorp $USB

Key Points

• Exchange Capital Management Inc. reduced its stake in U.S. Bancorp by 18.8%, selling 14,227 shares, which left them with 61,329 shares valued at approximately $2.775 million.
• U.S. Bancorp announced a quarterly dividend increase to $0.52 per share, up from the previous $0.50, representing an annualized yield of 4.3%.
• Analysts have varied ratings for U.S. Bancorp, with a consensus of Moderate Buy and an average price target of $53.26.

Exchange Capital Management Inc. lessened its stake in U.S. Bancorp (NYSE:USB - Free Report) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,329 shares of the financial services provider's stock after selling 14,227 shares during the period. Exchange Capital Management Inc.'s holdings in U.S. Bancorp were worth $2,775,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Saudi Central Bank bought a new position in U.S. Bancorp during the 1st quarter worth approximately $26,000. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $27,000. YANKCOM Partnership lifted its holdings in 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 last quarter. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp during the 1st quarter valued at approximately $30,000. Finally, Cornerstone Planning Group LLC grew its stake in U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after buying an additional 420 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents 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 insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.91 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market capitalization of $74.56 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.50 and a beta of 1.06. The firm has a 50-day moving average of $47.57 and a two-hundred day moving average of $44.51. 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 (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during 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 company's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 earnings per share 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. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's payout ratio is currently 49.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on USB shares. Oppenheimer reduced their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the company an "equal weight" rating in a research note on Monday. The Goldman Sachs Group raised 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 note on Tuesday, June 10th. Truist Financial boosted their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, September 17th. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.