Foster Victor Wealth Advisors LLC Sells 13,235 Shares of U.S. Bancorp $USB

Key Points

• Foster Victor Wealth Advisors LLC sold 13,235 shares of U.S. Bancorp, reducing its holdings by 7.2% to a total of 170,862 shares, valued at approximately $8 million.
• U.S. Bancorp recently announced a quarterly dividend of $0.52 per share, which reflects an increase from the previous $0.50 and indicates a 4.2% dividend yield.
• Several analysts have updated their ratings and price targets for U.S. Bancorp, with one firm raising the price target from $51.00 to $57.00 and reporting an average rating of "Moderate Buy".

Foster Victor Wealth Advisors LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,862 shares of the financial services provider's stock after selling 13,235 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in U.S. Bancorp were worth $8,082,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $26,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the first quarter valued at about $27,000. YANKCOM Partnership lifted 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 buying an additional 260 shares during the period. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the first quarter worth about $30,000. Finally, REAP Financial Group LLC grew its position in shares of U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on USB. Truist Financial lifted their price objective 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. Oppenheimer lowered their price target on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Evercore ISI increased 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, Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $52.83.

U.S. Bancorp Stock Performance

USB opened at $49.34 on Wednesday. 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 has a 12-month low of $35.18 and a 12-month high of $53.98. The business has a 50 day moving average of $47.18 and a 200-day moving average of $44.20. The stock has a market cap of $76.78 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.55 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted 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 business had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated 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 represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company's stock.

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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