OMERS ADMINISTRATION Corp Reduces Stake in U.S. Bancorp $USB

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in U.S. Bancorp by 14.6%, holding 55,500 shares worth approximately $2.34 million as of the latest SEC filing.
• U.S. Bancorp recently announced a $0.50 quarterly dividend, yielding 4.1%, with a dividend payout ratio of 47.85%.
• Analyst ratings for U.S. Bancorp show a consensus of Moderate Buy, with an average target price of $52.55 and several upgrades in recent reports.

OMERS ADMINISTRATION Corp trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,500 shares of the financial services provider's stock after selling 9,465 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in U.S. Bancorp were worth $2,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in USB. Brighton Jones LLC lifted its position in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Quarry LP bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $64,000. Freestone Grove Partners LP bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $10,607,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $57,444,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $121,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial lifted their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Cowen assumed coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Oppenheimer lifted their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents 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 hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Down 0.4%

Shares of USB stock traded down $0.22 during trading hours on Wednesday, reaching $48.30. 5,561,400 shares of the company's stock were exchanged, compared to its average volume of 10,504,242. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock has a market cap of $75.17 billion, a PE ratio of 11.56, a PEG ratio of 1.53 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock's fifty day moving average price is $46.42 and its two-hundred day moving average price is $43.86.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping 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 business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

U.S. Bancorp 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.