U.S. Bancorp $USB Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in U.S. Bancorp by 36.6%, owning 247,219 shares, valued at approximately $10.4 million after selling 142,482 shares in the first quarter.
• U.S. Bancorp recently reported quarterly earnings of $1.11 per share, exceeding analysts' expectations of $1.07, with a year-over-year revenue increase of 2.0%.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 4.3%, with a dividend payout ratio of 47.85%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 36.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 247,219 shares of the financial services provider's stock after selling 142,482 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in U.S. Bancorp were worth $10,438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth approximately $138,183,000. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. Northern Trust Corp boosted its position in shares of U.S. Bancorp by 10.9% in the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after buying an additional 1,670,305 shares during the period. GAMMA Investing LLC boosted its holdings in U.S. Bancorp by 4,160.7% in the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after acquiring an additional 1,511,293 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in U.S. Bancorp during the 4th quarter valued at $64,257,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $0.1650 during trading on Wednesday, hitting $46.0450. 1,334,655 shares of the stock were exchanged, compared to its average volume of 10,563,121. The stock has a market cap of $71.65 billion, a PE ratio of 11.02, a P/E/G ratio of 1.45 and a beta of 1.01. The stock's fifty day moving average is $45.51 and its 200 day moving average is $43.81. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

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 analysts' consensus estimates 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 company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is currently 47.85%.

Wall Street Analyst Weigh In

Several research firms recently commented on USB. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Oppenheimer raised their price target on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Truist Financial raised their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. DA Davidson upped 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. Finally, Citigroup boosted their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.55.

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 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 transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

About U.S. Bancorp

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.