Mn Services Vermogensbeheer B.V. Acquires 16,500 Shares of U.S. Bancorp $USB

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in U.S. Bancorp by 2.9%, acquiring an additional 16,500 shares during the second quarter, bringing its total to 585,200 shares valued at approximately $26.48 million.
• U.S. Bancorp recently announced a quarterly dividend of $0.52 per share, raising its annualized dividend yield to 4.2%, effective October 15th.
• The financial services provider's latest earnings report showed an EPS of $1.11, exceeding estimates, and forecasted a total EPS of 4.38 for the current year.

Mn Services Vermogensbeheer B.V. grew its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 585,200 shares of the financial services provider's stock after buying an additional 16,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in U.S. Bancorp were worth $26,480,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $27,000. REAP Financial Group LLC grew its stake in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares in the last quarter. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in U.S. Bancorp in the first quarter worth approximately $30,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

NYSE USB opened at $49.58 on Thursday. 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 stock's fifty day moving average price is $46.94 and its 200 day moving average price is $44.07. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a market cap of $77.16 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.52 and a beta of 1.05.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm's revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share 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. Investors of record on Tuesday, September 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. 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. U.S. Bancorp's payout ratio is currently 47.85%.

Insider Activity

In related 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. Morgan Stanley increased their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Truist Financial increased their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, Oppenheimer increased their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average target price of $52.60.

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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