Ieq Capital LLC Sells 57,586 Shares of U.S. Bancorp $USB

Key Points

• Ieq Capital LLC decreased its stake in U.S. Bancorp by 71.0%, selling 57,586 shares and holding 23,464 shares worth $991,000 as of the last reporting period.
• U.S. Bancorp's earnings report showed an EPS of $1.11, surpassing estimates of $1.07, while revenue reached $7.06 billion, slightly below the expected $7.07 billion.
• The company declared a quarterly dividend of $0.50, representing a 4.1% dividend yield, with a payout ratio of 47.85%.

Ieq Capital LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 71.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,464 shares of the financial services provider's stock after selling 57,586 shares during the period. Ieq Capital LLC's holdings in U.S. Bancorp were worth $991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of 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 valued at $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of U.S. Bancorp by 3.6% during the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after acquiring an additional 513,875 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in U.S. Bancorp by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock worth $601,458,000 after purchasing an additional 1,339,493 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock worth $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.59 during trading hours on Monday, reaching $48.21. 655,162 shares of the company traded hands, compared to its average volume of 10,419,919. U.S. Bancorp has a 1-year low of $35.18 and a 1-year 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. The stock has a market cap of $75.02 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The stock's fifty day moving average is $46.63 and its 200 day moving average is $43.87.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. TD Cowen assumed coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target for the company. DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Evercore ISI upped their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus 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 company'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 sale, the executive vice president directly owned 70,346 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

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.