IMS Capital Management Makes New Investment in U.S. Bancorp $USB

Key Points

• IMS Capital Management has acquired a new investment in U.S. Bancorp, purchasing 76,824 shares valued at approximately $3.48 million, making up about 1.6% of its portfolio.
• U.S. Bancorp recently increased its quarterly dividend from $0.50 to $0.52 per share, representing a 4.2% yield, with the ex-dividend date set for September 30th.
• The company reported $1.11 earnings per share for the last quarter, exceeding analysts' expectations, while setting its FY 2025 guidance for 4.38 EPS.

IMS Capital Management acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 76,824 shares of the financial services provider's stock, valued at approximately $3,476,000. U.S. Bancorp comprises approximately 1.6% of IMS Capital Management's portfolio, making the stock its 14th biggest holding.

Several other hedge funds have also modified their holdings of USB. Saudi Central Bank purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $26,000. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $27,000. YANKCOM Partnership grew its stake in shares of U.S. Bancorp by 59.4% during the 1st 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 acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth $30,000. Finally, REAP Financial Group LLC raised its position in shares of U.S. Bancorp by 86.1% in 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. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock opened at $49.34 on Wednesday. The stock's 50 day moving average is $47.18 and its two-hundred day moving average is $44.20. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a market capitalization of $76.78 billion, a PE ratio of 11.80, a P/E/G ratio of 1.55 and a beta of 1.05. 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 (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last 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 fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed 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 represents a $2.08 annualized dividend and a yield of 4.2%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on USB shares. 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 research report on Tuesday. Morgan Stanley boosted their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup raised their price target 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 lifted their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday, September 17th. Finally, Evercore ISI increased their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.83.

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.

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