Shell Asset Management Co. Grows Holdings in U.S. Bancorp $USB

Key Points

• Shell Asset Management Co. increased its holdings in U.S. Bancorp by 61.2%, owning 41,873 shares worth approximately $1.895 million at the end of the 2nd quarter.
• U.S. Bancorp declared a quarterly dividend of $0.52 per share, which is an increase from the previous $0.50, representing a 4.4% dividend yield.
• Equities analysts have mixed ratings on U.S. Bancorp, with a consensus target price increase to $53.11 and a total of one Strong Buy, thirteen Buy, eight Hold, and one Sell ratings.

Shell Asset Management Co. boosted its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 61.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,873 shares of the financial services provider's stock after purchasing an additional 15,893 shares during the quarter. Shell Asset Management Co.'s holdings in U.S. Bancorp were worth $1,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saudi Central Bank purchased a new stake in U.S. Bancorp in the 1st quarter valued at $26,000. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the 1st quarter worth $27,000. YANKCOM Partnership raised its position in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in U.S. Bancorp during the 1st quarter worth $30,000. Finally, Rakuten Securities Inc. raised its position in U.S. Bancorp by 1,212.1% during the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after buying an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Activity

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated 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. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on USB shares. UBS Group upped their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday. Oppenheimer cut their price objective on shares of 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. Truist Financial upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, September 17th. DA Davidson upped 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. Finally, Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.11.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.00 on Thursday. The stock has a market cap of $73.14 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.49 and a beta of 1.06. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company's 50-day moving average price is $47.69 and its 200 day moving average price is $44.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued 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 firm had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

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

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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