HighTower Advisors LLC Has $33.63 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• HighTower Advisors LLC reduced its ownership in U.S. Bancorp by 1.1%, holding 796,551 shares valued at approximately $33.6 million as of the end of the first quarter.
• U.S. Bancorp's stock has fallen 1.9%, closing at $45.96 with a market capitalization of $71.52 billion; its 52-week range is between $35.18 and $53.98.
• The company recently announced a quarterly dividend of $0.50, yielding 4.4%, with a payout ratio of 47.85%.

HighTower Advisors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 796,551 shares of the financial services provider's stock after selling 8,966 shares during the quarter. HighTower Advisors LLC owned 0.05% of U.S. Bancorp worth $33,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after buying an additional 36,863 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $239,000. Jump Financial LLC grew its holdings in U.S. Bancorp by 399.1% in the fourth quarter. Jump Financial LLC now owns 40,940 shares of the financial services provider's stock valued at $1,958,000 after purchasing an additional 32,738 shares during the period. NewEdge Advisors LLC increased its stake in U.S. Bancorp by 0.6% during the 4th quarter. NewEdge Advisors LLC now owns 96,180 shares of the financial services provider's stock worth $4,600,000 after buying an additional 616 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in U.S. Bancorp by 7.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,640,622 shares of the financial services provider's stock valued at $78,477,000 after acquiring an additional 111,373 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction 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 owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Truist Financial upped their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Cowen began coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. Evercore ISI boosted their target price on shares of 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. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Stock Performance

Shares of USB traded up $0.0250 during trading hours on Tuesday, reaching $46.1350. 1,725,735 shares of the company's stock traded hands, compared to its average volume of 10,597,787. The business's fifty day simple moving average is $45.49 and its two-hundred day simple moving average is $43.79. The firm has a market capitalization of $71.79 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.44 and a beta of 1.01. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 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.