InvesTrust Lowers Holdings in U.S. Bancorp $USB

Key Points

• InvesTrust has significantly reduced its holdings in U.S. Bancorp by 64.1%, now owning 49,091 shares after selling 87,639 shares in the second quarter, with a total value of $2.22 million.
• Several hedge funds have either increased their stakes or purchased new shares in U.S. Bancorp, leading to 77.60% of the stock being owned by institutional investors.
• U.S. Bancorp recently declared a quarterly dividend of $0.52, marking an increase from their previous dividend of $0.50, resulting in an annualized yield of 4.2%.

InvesTrust trimmed its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 64.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,091 shares of the financial services provider's stock after selling 87,639 shares during the quarter. InvesTrust's holdings in U.S. Bancorp were worth $2,221,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in U.S. Bancorp in the first quarter valued at $26,000. Westend Capital Management LLC purchased a new stake in U.S. Bancorp in the first quarter valued at $27,000. YANKCOM Partnership boosted its holdings in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the first quarter valued at $30,000. Finally, REAP Financial Group LLC boosted its holdings in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Truist Financial upped their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Citigroup increased their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley increased their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI increased 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 0.4%

Shares of U.S. Bancorp stock opened at $49.13 on Friday. The firm has a market capitalization of $76.46 billion, a PE ratio of 11.75, a P/E/G ratio of 1.55 and a beta of 1.05. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm's 50-day moving average price is $46.85 and its 200 day moving average price is $44.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating 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 net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business 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 $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio is 47.85%.

U.S. Bancorp Company 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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