Swedbank AB Grows Holdings in U.S. Bancorp $USB

Key Points

• Swedbank AB increased its stake in U.S. Bancorp by 6.7%, owning 722,872 shares valued at approximately $32.71 million after acquiring an additional 45,262 shares.
• U.S. Bancorp recently reported an EPS of $1.11 for the second quarter, surpassing analysts' expectations and showing a 2% revenue growth year over year.
• The company's quarterly dividend has been increased to $0.52 per share from the previous $0.50, yielding 4.1%, with the ex-dividend date set for September 30th.

Swedbank AB grew its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,872 shares of the financial services provider's stock after buying an additional 45,262 shares during the period. Swedbank AB's holdings in U.S. Bancorp were worth $32,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake 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 worth $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. Amundi lifted its holdings in shares of U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock worth $773,268,000 after acquiring an additional 422,050 shares during the last quarter. Davis Selected Advisers boosted its stake in shares of 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 purchasing an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock valued at $535,312,000 after purchasing an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 1,045,509 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.3%

NYSE:USB opened at $50.34 on Friday. The company has a fifty day moving average of $47.06 and a 200 day moving average of $44.14. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. 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 firm has a market capitalization of $78.34 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.57 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results 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. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the business posted $0.98 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.1%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on USB. Citigroup upped their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday. The Goldman Sachs Group upped their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Truist Financial upped their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday. DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Morgan Stanley upped their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.88.

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.

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