Patton Fund Management Inc. Buys New Holdings in U.S. Bancorp $USB

Key Points

• Patton Fund Management Inc. acquired a new stake in U.S. Bancorp, purchasing 5,517 shares valued at approximately $250,000 in the second quarter.
• Analysts have issued a consensus rating of "Moderate Buy" for U.S. Bancorp, with a target price of $52.83, reflecting positive growth prospects.
• U.S. Bancorp announced an increase in its quarterly dividend from $0.50 to $0.52, yielding 4.2% for investors of record.

Patton Fund Management Inc. bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,517 shares of the financial services provider's stock, valued at approximately $250,000.

Several other hedge funds have also bought and sold shares of USB. Saudi Central Bank acquired a new stake in U.S. Bancorp during the first quarter worth approximately $26,000. Westend Capital Management LLC acquired a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership lifted its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC lifted its position in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after acquiring an additional 420 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on USB shares. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Oppenheimer lowered their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Citigroup lifted their price target on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.83.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were 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 trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $49.42 on Friday. The company's 50 day simple moving average is $47.40 and its 200 day simple moving average is $44.35. The stock has a market capitalization of $76.91 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. 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 has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The business 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%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's payout ratio is 47.85%.

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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