Fifth Third Bancorp Has $35.63 Million Stake in U.S. Bancorp $USB

Key Points

• Fifth Third Bancorp reduced its stake in U.S. Bancorp by 1.3%, holding 787,479 shares valued at approximately $35.63 million as of their latest SEC filing.
• U.S. Bancorp announced a quarterly dividend increase from $0.50 to $0.52, with a yield of 4.2% and a payout ratio of 47.85%.
• Analysts have recently adjusted their price targets for U.S. Bancorp, with several firms issuing buy ratings and the consensus target now at $52.83.

Fifth Third Bancorp cut its position in U.S. Bancorp (NYSE:USB - Free Report) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 787,479 shares of the financial services provider's stock after selling 10,418 shares during the quarter. Fifth Third Bancorp owned 0.05% of U.S. Bancorp worth $35,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new position in shares of U.S. Bancorp in the 1st quarter valued at $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the first quarter valued at about $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 worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the first quarter worth about $30,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of U.S. Bancorp by 118.0% in the first 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 last quarter. Institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $49.19 on Thursday. The stock has a market cap of $76.54 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.55 and a beta of 1.05. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company's fifty day moving average is $47.25 and its 200 day moving average is $44.23. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results 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 firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS 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. Investors of record on Tuesday, September 30th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.2%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on USB shares. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. The Goldman Sachs Group raised their target price 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. Truist Financial boosted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, September 17th. Citigroup increased their price target on U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, Oppenheimer cut their price objective on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a report on Tuesday. 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 assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $52.83.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

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.