Stoneridge Investment Partners LLC Invests $1.36 Million in U.S. Bancorp $USB

Key Points

• Stoneridge Investment Partners LLC purchased 32,153 shares of U.S. Bancorp valued at approximately $1.36 million during the first quarter, indicating growing institutional interest in the stock.
• U.S. Bancorp recently reported $1.11 earnings per share (EPS) for the quarter, exceeding the consensus estimate of $1.07, showcasing a year-over-year revenue increase of 2.0%.
• The company announced a quarterly dividend of $0.50 on July 15th, which translates to an annualized dividend yield of 4.3%, reflecting a solid payout ratio of 47.85%.

Stoneridge Investment Partners LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 32,153 shares of the financial services provider's stock, valued at approximately $1,357,000.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Nuveen LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $138,183,000. Vanguard Group Inc. raised its position 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 last quarter. Northern Trust Corp lifted its stake in U.S. Bancorp by 10.9% during 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 acquiring an additional 1,670,305 shares in the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 1,511,293 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of U.S. Bancorp by 17.4% in 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 acquiring an additional 1,493,318 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp 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 value of $1,099,509.18. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup lifted their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group raised their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Evercore ISI increased their price objective on 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, Morgan Stanley upped their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock 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 given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Stock Performance

USB traded up $2.0710 during mid-day trading on Friday, reaching $48.2410. 12,678,587 shares of the company traded hands, compared to its average volume of 7,768,210. The company's fifty day moving average price is $45.70 and its 200-day moving average price is $43.83. The stock has a market capitalization of $75.07 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.45 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 52-week low of $35.18 and a 52-week 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, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business'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. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.1%. 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.