U.S. Bancorp $USB Shares Sold by Goelzer Investment Management Inc.

Key Points

• Goelzer Investment Management Inc. reduced its holdings in U.S. Bancorp by 6.5%, selling 15,557 shares and now owning a total of 224,855 shares valued at approximately $10.17 million.
• U.S. Bancorp announced a quarterly dividend of $0.52 per share, increasing from its previous dividend of $0.50, with a dividend yield of 4.3%.
• Equity analysts have set new price targets for U.S. Bancorp, with recommendations ranging from "Strong Buy" to "Hold," and an average target price of $52.55.

Goelzer Investment Management Inc. trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 224,855 shares of the financial services provider's stock after selling 15,557 shares during the quarter. Goelzer Investment Management Inc.'s holdings in U.S. Bancorp were worth $10,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bestgate Wealth Advisors LLC raised its position in U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 253 shares during the period. Atlantic Family Wealth LLC grew its stake in shares of U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after purchasing an additional 254 shares in the last quarter. YANKCOM Partnership grew its stake in shares of 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 purchasing an additional 260 shares in the last quarter. Plancorp LLC grew its stake in shares of U.S. Bancorp by 0.6% during the first quarter. Plancorp LLC now owns 45,473 shares of the financial services provider's stock worth $1,920,000 after purchasing an additional 260 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its stake in U.S. Bancorp by 0.9% in the first quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider's stock valued at $1,175,000 after acquiring an additional 261 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction 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 sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on USB shares. Citigroup upped their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a report on Friday. Truist Financial raised their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Morgan Stanley increased their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. 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 given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.88.

U.S. Bancorp Trading Up 0.3%

Shares of USB traded up $0.13 during mid-day trading on Friday, reaching $50.34. The company had a trading volume of 20,595,297 shares, compared to its average volume of 10,560,306. The firm has a fifty day simple moving average of $46.99 and a 200-day simple moving average of $44.10. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. 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 stock has a market cap of $78.34 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm posted $0.98 EPS. 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. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS 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. Investors of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.1%. U.S. Bancorp's payout ratio is presently 47.85%.

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.