QRG Capital Management Inc. Grows Holdings in U.S. Bancorp $USB

Key Points

• QRG Capital Management Inc. has increased its stake in U.S. Bancorp by 7.5%, bringing its total shares to 97,575, valued at approximately $4.4 million as of the end of the last reporting period.
• U.S. Bancorp reported a quarterly EPS of $1.11, beating analysts’ estimates and showing a 2% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.52 per share, up from the previous $0.50, reflecting a steady dividend yield of 4.4%.

QRG Capital Management Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 97,575 shares of the financial services provider's stock after purchasing an additional 6,844 shares during the period. QRG Capital Management Inc.'s holdings in U.S. Bancorp were worth $4,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the first quarter worth $26,000. Westend Capital Management LLC acquired a new position in U.S. Bancorp during the 1st quarter worth about $27,000. YANKCOM Partnership boosted its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp in the 1st quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 420 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.7%

Shares of NYSE USB opened at $47.73 on Tuesday. The business has a 50-day moving average of $47.64 and a two-hundred day moving average of $44.62. The company has a market capitalization of $74.28 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. 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 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 business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is presently 49.76%.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on USB shares. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research note on Tuesday, September 23rd. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the company an "equal weight" rating in a research note on Monday, September 29th. Finally, DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.26.

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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