Meritage Portfolio Management Invests $4.66 Million in U.S. Bancorp $USB

Key Points

• Meritage Portfolio Management invested approximately $4.66 million in U.S. Bancorp by acquiring 102,950 shares during the second quarter, reflecting growing institutional interest in the company.
• U.S. Bancorp recently announced an increase in its quarterly dividend from $0.50 to $0.52 per share, providing a dividend yield of 4.6%.
• Analysts have a generally positive outlook for U.S. Bancorp, with a consensus rating of "Moderate Buy" and an average price target of $53.11 as of the latest reports.

Meritage Portfolio Management acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 102,950 shares of the financial services provider's stock, valued at approximately $4,658,000.

A number of other large investors have also made changes to their positions in USB. CWM LLC boosted its position in U.S. Bancorp by 10.4% during the second quarter. CWM LLC now owns 183,671 shares of the financial services provider's stock worth $8,311,000 after acquiring an additional 17,308 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE grew its stake in U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider's stock worth $2,086,000 after acquiring an additional 249 shares during the period. OFI Invest Asset Management grew its stake in U.S. Bancorp by 63.8% in the 2nd quarter. OFI Invest Asset Management now owns 2,442 shares of the financial services provider's stock worth $111,000 after acquiring an additional 951 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in U.S. Bancorp by 7.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 132,777 shares of the financial services provider's stock worth $6,008,000 after acquiring an additional 8,904 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in shares of U.S. Bancorp by 1.6% in the second quarter. Concurrent Investment Advisors LLC now owns 62,934 shares of the financial services provider's stock worth $2,848,000 after acquiring an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 3.8%

Shares of USB stock opened at $45.29 on Friday. The stock has a market cap of $70.48 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.42 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. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm's 50 day moving average price is $47.76 and its two-hundred day moving average price is $44.69.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analysts' expectations 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 revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 an increase from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. U.S. Bancorp's dividend payout ratio is presently 49.76%.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Truist Financial upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, September 17th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $53.11.

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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