Rafferty Asset Management LLC Has $21.59 Million Stake in U.S. Bancorp $USB

Key Points

• Rafferty Asset Management LLC reduced its holdings in U.S. Bancorp by 7.1%, selling 38,968 shares during the first quarter and now owns 511,423 shares valued at approximately $21.59 million.
• U.S. Bancorp reported a quarterly EPS of $1.11, surpassing estimates of $1.07, with a total revenue of $7.06 billion for the quarter.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 4.1%.

Rafferty Asset Management LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 511,423 shares of the financial services provider's stock after selling 38,968 shares during the quarter. Rafferty Asset Management LLC's holdings in U.S. Bancorp were worth $21,592,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of USB. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the period. Northern Trust Corp increased its holdings in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after buying an additional 1,670,305 shares during the period. Davis Selected Advisers increased its holdings in U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after buying an additional 513,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in U.S. Bancorp by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock valued at $601,458,000 after buying an additional 1,339,493 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock valued at $464,953,000 after buying an additional 1,045,509 shares during the period. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Morgan Stanley raised their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Evercore ISI raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Oppenheimer raised their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were 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 of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.20 during midday trading on Friday, hitting $48.87. 12,069,872 shares of the company traded hands, compared to its average volume of 7,839,136. The firm's fifty day moving average price is $46.25 and its 200-day moving average price is $43.85. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $76.05 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.53 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company'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, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 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.