U.S. Bancorp $USB Shares Sold by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. has reduced its holdings in U.S. Bancorp by 9.0%, selling 13,721 shares, bringing their total ownership to 139,044 shares valued at approximately $5.87 million.
• Other institutional investors have increased their stakes in U.S. Bancorp, with Wesbanco Bank Inc. raising its holdings by 31.6% to 325,056 shares worth $13.72 million.
• U.S. Bancorp recently reported $1.11 earnings per share for the quarter, exceeding the consensus estimate by $0.04, along with a quarterly dividend of $0.50 paid on July 15th.

Sit Investment Associates Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,044 shares of the financial services provider's stock after selling 13,721 shares during the quarter. Sit Investment Associates Inc.'s holdings in U.S. Bancorp were worth $5,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $239,000. Jump Financial LLC increased its holdings in shares of U.S. Bancorp by 399.1% during the 4th quarter. Jump Financial LLC now owns 40,940 shares of the financial services provider's stock valued at $1,958,000 after purchasing an additional 32,738 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of U.S. Bancorp by 0.6% in the 4th quarter. NewEdge Advisors LLC now owns 96,180 shares of the financial services provider's stock valued at $4,600,000 after purchasing an additional 616 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of U.S. Bancorp by 7.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,640,622 shares of the financial services provider's stock valued at $78,477,000 after purchasing an additional 111,373 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.18 during midday trading on Wednesday, hitting $46.03. The stock had a trading volume of 1,334,655 shares, compared to its average volume of 10,563,121. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a 50 day simple moving average of $45.51 and a 200-day simple moving average of $43.81. The company has a market capitalization of $71.63 billion, a PE ratio of 11.02, a P/E/G ratio of 1.45 and a beta of 1.01. 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 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during 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 firm's revenue was up 2.0% compared to the same quarter last year. 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. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business'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 transaction, the executive vice president directly 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USB. TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Cowen started coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Oppenheimer upped their price target on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $52.55.

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.