U.S. Bancorp $USB Shares Sold by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC has reduced its stake in U.S. Bancorp by 35.3% in the second quarter, now holding shares worth $796,000 after selling 9,615 shares.
• U.S. Bancorp recently announced an increase in its quarterly dividend from $0.50 to $0.52 per share, reflecting a yield of 4.2%.
• The company's stock rose 2.5% and reported quarterly earnings of $1.11 EPS, surpassing analysts' expectations of $1.07.

Procyon Advisors LLC lessened its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 35.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,599 shares of the financial services provider's stock after selling 9,615 shares during the period. Procyon Advisors LLC's holdings in U.S. Bancorp were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of USB. Brighton Jones LLC raised its position in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Man Group plc grew its stake in U.S. Bancorp by 32.8% during the 4th quarter. Man Group plc now owns 48,258 shares of the financial services provider's stock worth $2,308,000 after buying an additional 11,926 shares during the last quarter. Tidal Investments LLC grew its stake in U.S. Bancorp by 21.6% during the 4th quarter. Tidal Investments LLC now owns 66,207 shares of the financial services provider's stock worth $3,167,000 after buying an additional 11,769 shares during the last quarter. Vident Advisory LLC lifted its position in U.S. Bancorp by 2.9% during the 4th quarter. Vident Advisory LLC now owns 48,690 shares of the financial services provider's stock worth $2,329,000 after acquiring an additional 1,365 shares during the period. Finally, Woodline Partners LP acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $4,481,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 completion of the transaction, the executive vice president directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on USB. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer raised their price target on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Citigroup lifted their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a report on Friday. Morgan Stanley lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Truist Financial lifted their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.88.

U.S. Bancorp Stock Performance

USB stock traded up $0.13 on Friday, reaching $50.34. The company's stock had a trading volume of 20,595,297 shares, compared to its average volume of 9,455,050. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a market capitalization of $78.34 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The firm has a fifty day moving average of $47.06 and a two-hundred day moving average of $44.13. 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 issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. 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. U.S. Bancorp's dividend payout ratio is 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.