Laffer Tengler Investments Inc. Cuts Holdings in U.S. Bancorp $USB

Key Points

• Laffer Tengler Investments Inc. significantly reduced its holdings in U.S. Bancorp by 65.4%, selling 22,500 shares and retaining only 11,919 shares worth approximately $503,000.
• Several institutional investors, including Nuveen LLC and Vanguard Group Inc., have recently increased their stakes in U.S. Bancorp, indicating a shift in investor sentiment.
• Analysts have raised their price targets for U.S. Bancorp stock, with the average target now at $52.55, suggesting overall positive expectations from the market.

Laffer Tengler Investments Inc. decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 65.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,919 shares of the financial services provider's stock after selling 22,500 shares during the period. Laffer Tengler Investments Inc.'s holdings in U.S. Bancorp were worth $503,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in U.S. Bancorp in the first quarter worth $138,183,000. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of U.S. Bancorp by 10.9% during the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of U.S. Bancorp by 4,160.7% during the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after buying an additional 1,511,293 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of U.S. Bancorp by 17.4% during 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 acquiring an additional 1,493,318 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer raised their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Evercore ISI lifted 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 note on Wednesday, June 4th. Cowen began coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Stock Performance

NYSE:USB opened at $46.1660 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $71.84 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The firm's fifty day moving average price is $45.59 and its 200 day moving average price is $43.82.

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

U.S. Bancorp Announces Dividend

The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.3%. 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 stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company's stock.

About U.S. Bancorp

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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