OLD National Bancorp IN Cuts Position in U.S. Bancorp $USB

Key Points

• OLD National Bancorp IN reduced its stake in U.S. Bancorp by 12.5%, now holding 64,252 shares valued at approximately $2.9 million.
• Various institutional investors, including Vanguard Group and Goldman Sachs, have increased their positions in U.S. Bancorp, highlighting strong institutional interest.
• U.S. Bancorp recently declared a quarterly dividend of $0.52, up from $0.50, representing an annualized dividend yield of 4.3%.

OLD National Bancorp IN cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,252 shares of the financial services provider's stock after selling 9,190 shares during the period. OLD National Bancorp IN's holdings in U.S. Bancorp were worth $2,907,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $138,183,000. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. American Century Companies Inc. boosted its stake in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock valued at $425,163,000 after acquiring an additional 1,493,318 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of U.S. Bancorp by 124.8% during the 1st quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider's stock valued at $76,121,000 after acquiring an additional 1,001,097 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on USB. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the stock an "equal weight" rating in a report on Monday, September 29th. Oppenheimer lowered their target price on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. The Goldman Sachs Group lifted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.26.

U.S. Bancorp Trading Up 0.2%

Shares of USB opened at $48.00 on Monday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock has a market cap of $74.69 billion, a PE ratio of 11.48, a P/E/G ratio of 1.50 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. The business's 50-day moving average price is $47.61 and its 200-day moving average price is $44.58.

U.S. Bancorp (NYSE:USB - Get Free Report) last released 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. The company had revenue of $7.06 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.52 dividend. 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 annualized dividend and a dividend yield of 4.3%. U.S. Bancorp's payout ratio is currently 49.76%.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 completion of the sale, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

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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