GC Wealth Management RIA LLC Takes $1.17 Million Position in U.S. Bancorp $USB

Key Points

• GC Wealth Management RIA LLC has acquired a new position in U.S. Bancorp valued at approximately $1.17 million by purchasing 25,851 shares.
• U.S. Bancorp recently declared a quarterly dividend of $0.52 per share, marking an increase from its previous dividend of $0.50, which represents an annual yield of 4.3%.
• Wall Street analysts have set a consensus target price of $53.02 for U.S. Bancorp, with ratings ranging from "Strong Buy" to "Sell" among various analysts.

GC Wealth Management RIA LLC acquired a new position in U.S. Bancorp (NYSE:USB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,851 shares of the financial services provider's stock, valued at approximately $1,170,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the last quarter. Amundi grew its position in shares of U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after acquiring an additional 422,050 shares during the period. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock worth $628,614,000 after purchasing an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock worth $535,312,000 after purchasing an additional 104,185 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company'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 transaction of $1,099,509.18. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on USB shares. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the stock an "equal weight" rating in a research note on Monday. Evercore ISI raised their target price on shares of 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. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. The Goldman Sachs Group raised their price objective 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. Finally, DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.02.

U.S. Bancorp Stock Performance

USB opened at $48.94 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $76.16 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.55 and a beta of 1.05. The company has a fifty day moving average of $47.46 and a 200 day moving average of $44.42. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

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 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.3%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) is 49.76%.

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.

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