The Manufacturers Life Insurance Company Reduces Stock Holdings in U.S. Bancorp $USB

Key Points

• The Manufacturers Life Insurance Company reduced its stake in U.S. Bancorp by 15.2%, owning approximately 1,887,277 shares worth $79.68 million after selling 337,181 shares in the first quarter.
• U.S. Bancorp reported $1.11 earnings per share for the last quarter, exceeding the consensus estimate of $1.07, while revenue was slightly below expectations at $7.06 billion.
• The company announced a quarterly dividend of $0.50 per share, translating to an annualized dividend of $2.00 and a dividend yield of 4.1%.

The Manufacturers Life Insurance Company reduced its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,887,277 shares of the financial services provider's stock after selling 337,181 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of U.S. Bancorp worth $79,681,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of USB. Brighton Jones LLC lifted its holdings in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of U.S. Bancorp by 0.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 193,565 shares of the financial services provider's stock worth $9,258,000 after purchasing an additional 1,759 shares in the last quarter. Gallagher Fiduciary Advisors LLC lifted its position in shares of U.S. Bancorp by 7.2% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 9,116 shares of the financial services provider's stock valued at $436,000 after buying an additional 609 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $70,000. Finally, AXA S.A. grew its position in shares of U.S. Bancorp by 195.7% in the fourth quarter. AXA S.A. now owns 102,380 shares of the financial services provider's stock valued at $4,897,000 after purchasing an additional 67,759 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 1.2%

USB stock traded up $0.57 during midday trading on Thursday, hitting $49.11. The stock had a trading volume of 3,478,194 shares, compared to its average volume of 10,480,458. The firm has a market cap of $76.42 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The business has a 50-day moving average of $46.50 and a two-hundred day moving average of $43.89. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. 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 earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on USB shares. Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Citigroup raised their price objective on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Oppenheimer increased their price target on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Finally, Evercore ISI increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

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 stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by insiders.

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.