Matrix Asset Advisors Inc. NY Has $32.31 Million Holdings in U.S. Bancorp $USB

Key Points

• Matrix Asset Advisors Inc. NY raised its stake in U.S. Bancorp by 7.8% in Q2, holding $32.31 million worth of shares, accounting for 3.3% of its total holdings.
• U.S. Bancorp recently increased its quarterly dividend from $0.50 to $0.52 per share, now yielding 4.6% annually.
• Analysts have a consensus rating of "Moderate Buy" for U.S. Bancorp, with a price target averaging at $53.11.

Matrix Asset Advisors Inc. NY lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713,934 shares of the financial services provider's stock after acquiring an additional 51,528 shares during the quarter. U.S. Bancorp makes up 3.3% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 7th biggest holding. Matrix Asset Advisors Inc. NY's holdings in U.S. Bancorp were worth $32,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new position in shares of U.S. Bancorp during the first quarter worth about $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp during the first quarter worth about $27,000. YANKCOM Partnership raised its position in shares of 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 last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp during the first quarter worth about $30,000. Finally, Rakuten Securities Inc. grew its stake 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 purchasing an additional 703 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent analyst reports. Evercore ISI raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday. UBS Group raised their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Oppenheimer decreased their target price on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.11.

U.S. Bancorp Trading Down 3.8%

Shares of U.S. Bancorp stock opened at $45.29 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a 50 day moving average price of $47.76 and a two-hundred day moving average price of $44.69. The stock has a market capitalization of $70.48 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06.

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 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $0.98 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. U.S. Bancorp's payout ratio is presently 49.76%.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by 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.

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