KLP Kapitalforvaltning AS Boosts Position in U.S. Bancorp $USB

Key Points

• KLP Kapitalforvaltning AS increased its holdings in U.S. Bancorp by 2.9%, acquiring an additional 15,500 shares to reach a total of 558,096 shares valued at approximately $25.5 million.
• Recent analyst reports set varying price targets for U.S. Bancorp, with quotes ranging from $46.00 to $57.00, and the stock currently holds an average rating of Moderate Buy.
• U.S. Bancorp declared a quarterly dividend of $0.52 per share, which reflects an increase from the previous dividend of $0.50, yielding about 4.4% annually.

KLP Kapitalforvaltning AS boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 558,096 shares of the financial services provider's stock after acquiring an additional 15,500 shares during the quarter. KLP Kapitalforvaltning AS's holdings in U.S. Bancorp were worth $25,491,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crestwood Advisors Group LLC increased its position in U.S. Bancorp by 10.6% during the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 649 shares during the last quarter. Ally Financial Inc. increased its position in U.S. Bancorp by 12.3% during the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock valued at $3,842,000 after acquiring an additional 10,000 shares during the last quarter. United Community Bank grew its holdings in U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Jump Financial LLC grew its holdings in U.S. Bancorp by 1,952.5% during the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in U.S. Bancorp by 9.2% during the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock valued at $27,585,000 after purchasing an additional 55,054 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was 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 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 is accessible through this link. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on USB shares. Morgan Stanley set a $56.00 price target on U.S. Bancorp and gave the company an "equal weight" rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Evercore ISI boosted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Finally, Truist Financial boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.11.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.52 on Wednesday. The firm has a market cap of $73.94 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average price of $47.67 and a 200-day moving average price of $44.64. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

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 earnings per share for the quarter, topping 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 return on equity of 13.08% and a net margin of 16.30%.The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp's dividend payout ratio is currently 49.76%.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.