King Luther Capital Management Corp Lowers Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• King Luther Capital Management Corp reduced its holdings in U.S. Bancorp by 22.7%, selling 92,030 shares during the first quarter, leaving it with 312,817 shares worth approximately $13.2 million.
• U.S. Bancorp reported $1.11 earnings per share for the latest quarter, exceeding analysts' expectations of $1.07, while achieving a 2% revenue increase year-over-year.
• The company's quarterly dividend of $0.50 reflects a 4.5% dividend yield, with a payout ratio of 47.85%, indicating solid return potential for investors.

King Luther Capital Management Corp reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,817 shares of the financial services provider's stock after selling 92,030 shares during the period. King Luther Capital Management Corp's holdings in U.S. Bancorp were worth $13,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in U.S. Bancorp during the first quarter worth $27,000. REAP Financial Group LLC raised its position in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares during the period. YANKCOM Partnership raised its position in 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 acquiring an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp during the first quarter worth $30,000. Finally, Rakuten Securities Inc. raised its position in U.S. Bancorp by 1,212.1% during the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after acquiring an additional 703 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 1.2%

Shares of USB traded down $0.55 during mid-day trading on Friday, reaching $46.28. The stock had a trading volume of 2,779,369 shares, compared to its average volume of 10,645,122. 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 has a 52-week low of $35.18 and a 52-week high of $53.98. The business's fifty day moving average is $45.44 and its 200 day moving average is $43.88. The firm has a market cap of $72.01 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.46 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. Evercore ISI upped 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. Piper Sandler reduced their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Morgan Stanley upped their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp 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.