Korea Investment CORP Sells 110,958 Shares of U.S. Bancorp $USB

Key Points

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Korea Investment CORP cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,210,751 shares of the financial services provider's stock after selling 110,958 shares during the period. Korea Investment CORP owned 0.08% of U.S. Bancorp worth $51,118,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in USB. Nuveen LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. Northern Trust Corp lifted its holdings in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares in the last quarter. GAMMA Investing LLC lifted its holdings in U.S. Bancorp by 4,160.7% in the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after purchasing an additional 1,511,293 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in U.S. Bancorp by 17.4% in the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock worth $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on USB. Truist Financial upped their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Evercore ISI upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. Citigroup upped their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. DA Davidson upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Trading Up 4.5%

Shares of NYSE USB traded up $2.0710 during trading hours on Friday, hitting $48.2410. 12,678,587 shares of the company traded hands, compared to its average volume of 10,582,987. The stock has a market capitalization of $75.07 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.45 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. The company's 50 day moving average price is $45.59 and its 200 day moving average price is $43.82. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

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.