First Hawaiian Bank Sells 12,932 Shares of U.S. Bancorp $USB

Key Points

• First Hawaiian Bank reduced its stake in U.S. Bancorp by 34.6%, selling 12,932 shares in the first quarter, bringing its total holdings to 24,429 shares valued at approximately $1,031,000.
• Analysts have raised their target prices for U.S. Bancorp, with Evercore ISI increasing their target from $44.00 to $49.00, while Citigroup raised theirs from $55.00 to $59.00, indicating a consensus rating of Moderate Buy.
• U.S. Bancorp announced an increase in its quarterly dividend to $0.52 per share, up from $0.50, representing a 4.2% yield with a dividend payout ratio of 47.85%.

First Hawaiian Bank reduced its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 34.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,429 shares of the financial services provider's stock after selling 12,932 shares during the period. First Hawaiian Bank's holdings in U.S. Bancorp were worth $1,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Saudi Central Bank bought a new stake in U.S. Bancorp in the first quarter worth approximately $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp during the first quarter worth $27,000. REAP Financial Group LLC grew its holdings in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the period. YANKCOM Partnership increased its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on USB shares. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group raised their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Truist Financial increased their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Finally, Citigroup boosted their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.55.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 0.4%

NYSE USB opened at $49.13 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $44.00. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $76.46 billion, a P/E ratio of 11.75, a PEG ratio of 1.55 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts predict 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. Shareholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.2%. 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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