King Luther Capital Management Corp Decreases Position 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 trimmed its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 312,817 shares of the financial services provider's stock after selling 92,030 shares during the quarter. King Luther Capital Management Corp's holdings in U.S. Bancorp were worth $13,207,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth about $27,000. YANKCOM Partnership boosted 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 worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth about $30,000. REAP Financial Group LLC boosted its stake in shares of U.S. Bancorp by 86.1% during the 4th 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 in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after acquiring an additional 420 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the firm's 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 sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock traded up $1.22 during mid-day trading on Tuesday, reaching $45.78. The company's stock had a trading volume of 8,836,572 shares, compared to its average volume of 10,735,560. The stock has a market cap of $71.24 billion, a PE ratio of 10.95, a P/E/G ratio of 1.40 and a beta of 1.01. 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 has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company's 50 day moving average is $45.32 and its two-hundred day moving average is $43.88.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company 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%. 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 earned $0.98 EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.4%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. 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. Truist Financial raised their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group raised their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $52.55.

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.