Northern Trust Corp Trims Holdings in U.S. Bancorp $USB

Key Points

• Northern Trust Corp has reduced its stake in U.S. Bancorp by 2.4%, owning approximately 16.6 million shares valued at around $702.7 million as of the latest SEC filing.
• Several institutional investors have increased their positions in U.S. Bancorp, with Wesbanco Bank Inc. leading at a 31.6% increase.
• Analysts have generally raised their price targets for U.S. Bancorp, with a consensus target of $52.55 and a rating of "Moderate Buy".

Northern Trust Corp lowered its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,643,739 shares of the financial services provider's stock after selling 406,829 shares during the quarter. Northern Trust Corp owned approximately 1.07% of U.S. Bancorp worth $702,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Brooklyn Investment Group grew its stake in shares of U.S. Bancorp by 31.8% during the 1st quarter. Brooklyn Investment Group now owns 6,857 shares of the financial services provider's stock valued at $290,000 after acquiring an additional 1,655 shares during the period. Versor Investments LP bought a new position in U.S. Bancorp in the 1st quarter worth approximately $426,000. Northwest & Ethical Investments L.P. boosted its stake in U.S. Bancorp by 22.1% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 52,090 shares of the financial services provider's stock worth $2,199,000 after purchasing an additional 9,417 shares during the period. Pinnacle Holdings LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $53,000. Finally, Alliance Wealth Advisors LLC UT boosted its stake in U.S. Bancorp by 6.7% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 8,659 shares of the financial services provider's stock worth $366,000 after purchasing an additional 543 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on USB. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. TD Cowen began coverage on U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 price target for the company. Oppenheimer upped their price target 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. DA Davidson increased their target price on 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, Truist Financial increased their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $2.0710 during midday trading on Friday, reaching $48.2410. 12,678,587 shares of the stock traded hands, compared to its average volume of 10,582,987. The company's 50 day moving average is $45.59 and its 200 day moving average is $43.82. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a market capitalization of $75.07 billion, a PE ratio of 11.54, a P/E/G ratio of 1.45 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly 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. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. 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 year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

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.