Prudential PLC Trims Position in U.S. Bancorp $USB

Key Points

• Prudential PLC has reduced its stake in U.S. Bancorp by 38.7% in the first quarter, holding 62,155 shares valued at approximately $2.6 million.
• U.S. Bancorp's recent quarterly earnings report showed earnings per share of $1.11, surpassing the consensus estimate of $1.07, with revenue slightly below expectations at $7.06 billion.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 4.3% and a payout ratio of 47.85%.

Prudential PLC lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,155 shares of the financial services provider's stock after selling 39,259 shares during the period. Prudential PLC's holdings in U.S. Bancorp were worth $2,624,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wesbanco Bank Inc. grew its position in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after acquiring an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after purchasing an additional 649 shares in the last quarter. Becker Capital Management Inc. raised its holdings in shares of U.S. Bancorp by 1.5% during the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after buying an additional 8,204 shares in the last quarter. United Community Bank lifted its position in U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after buying an additional 8,796 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in U.S. Bancorp by 9.2% in the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider's stock worth $27,585,000 after buying an additional 55,054 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.0%

Shares of NYSE:USB traded up $0.0050 during midday trading on Tuesday, reaching $46.1150. The company's stock had a trading volume of 1,725,735 shares, compared to its average volume of 10,597,787. 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 firm has a market capitalization of $71.76 billion, a P/E ratio of 11.03, a PEG ratio of 1.44 and a beta of 1.01. The firm has a 50 day moving average of $45.49 and a 200-day moving average of $43.79. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Evercore ISI increased their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Truist Financial upped their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Citigroup boosted their price target on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

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 sale, the executive vice president directly owned 70,346 shares in the company, 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 is accessible through this hyperlink. 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.