Thomasville National Bank Purchases 11,970 Shares of U.S. Bancorp $USB

Key Points

• Thomasville National Bank increased its holdings in U.S. Bancorp by 1.8%, acquiring an additional 11,970 shares, bringing its total to 694,114 shares valued at approximately $31.4 million.
• U.S. Bancorp's stock has received positive forecasts from analysts, with target price upgrades from $41.00 to $67.00 by various investment firms, indicating a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend increase to $0.52, which represents an annualized dividend yield of 4.1%, with a payout ratio of 47.85%.

Thomasville National Bank lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 694,114 shares of the financial services provider's stock after acquiring an additional 11,970 shares during the quarter. U.S. Bancorp accounts for 2.1% of Thomasville National Bank's portfolio, making the stock its 14th largest holding. Thomasville National Bank's holdings in U.S. Bancorp were worth $31,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the first quarter valued at $26,000. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth $27,000. YANKCOM Partnership raised its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $30,000. Finally, REAP Financial Group LLC increased its position in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after buying an additional 297 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.13 during mid-day trading on Friday, hitting $50.34. 20,595,297 shares of the company were exchanged, compared to its average volume of 9,455,050. The company has a market capitalization of $78.34 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. The business has a fifty day moving average of $47.06 and a 200 day moving average of $44.13. U.S. Bancorp has a 1-year low of $35.18 and a 1-year 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.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results 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 company had revenue of $7.06 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on USB shares. The Goldman Sachs Group upped their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley increased their target price 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. Finally, Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.88.

U.S. Bancorp 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.