Quad Cities Investment Group LLC Sells 5,409 Shares of U.S. Bancorp $USB

Key Points

• Quad Cities Investment Group LLC reduced its stake in U.S. Bancorp by 40.5%, selling 5,409 shares and valuing remaining holdings at $359,000.
• Several hedge funds have made significant transactions involving U.S. Bancorp, with Nuveen LLC acquiring a new position worth approximately $138 million.
• U.S. Bancorp announced a quarterly dividend increase to $0.52 per share, reflecting a total annualized dividend of $2.08 and a yield of 4.1%.

Quad Cities Investment Group LLC lessened its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 40.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,944 shares of the financial services provider's stock after selling 5,409 shares during the quarter. Quad Cities Investment Group LLC's holdings in U.S. Bancorp were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in USB. Nuveen LLC bought a new position in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. GAMMA Investing LLC raised its holdings in U.S. Bancorp by 4,160.7% during the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after purchasing an additional 1,511,293 shares during the last quarter. American Century Companies Inc. raised its holdings in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock worth $425,163,000 after purchasing an additional 1,493,318 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in U.S. Bancorp during the 4th quarter worth approximately $64,257,000. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial lifted their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Finally, Citigroup lifted their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.88.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

USB opened at $50.34 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.34 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.58 and a beta of 1.05. The firm's fifty day moving average price is $47.06 and its two-hundred day moving average price is $44.13. 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 posted 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. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 4.1%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's dividend payout ratio (DPR) 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.

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