RMG Wealth Management LLC Invests $286,000 in U.S. Bancorp $USB

Key Points

• RMG Wealth Management LLC has invested $286,000 in U.S. Bancorp by acquiring 6,288 shares during the second quarter, highlighting ongoing institutional interest in the company.
• U.S. Bancorp recently reported earnings per share of $1.11 for the last quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 2.0%.
• The company has declared a quarterly dividend of $0.52 per share, an increase from the previous quarter, reflecting a positive dividend payout ratio of 49.76%.

RMG Wealth Management LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 6,288 shares of the financial services provider's stock, valued at approximately $286,000.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. boosted 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 purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. grew its position in shares of 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 valued at $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after purchasing an additional 1,045,509 shares during the period. Finally, National Bank of Canada FI raised its position in shares of U.S. Bancorp by 124.8% in the first quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider's stock worth $76,121,000 after buying an additional 1,001,097 shares in the last quarter. 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 stock has a market capitalization of $74.28 billion, a P/E ratio of 11.42, a PEG ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm's 50 day simple moving average is $47.64 and its two-hundred day simple moving average is $44.62. 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 announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the business posted $0.98 EPS. The business's quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.4%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.76%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on USB. Oppenheimer reduced their target price on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. The Goldman Sachs Group boosted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Citigroup upped their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Finally, DA Davidson boosted 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.26.

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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