Thurston Springer Miller Herd & Titak Inc. Lowers Holdings in U.S. Bancorp $USB

Key Points

• Thurston Springer Miller Herd & Titak Inc. reduced its stake in U.S. Bancorp by 49.3% during Q2, holding 8,697 shares worth $394,000 following an 8,453 share sale.
• U.S. Bancorp announced a quarterly dividend of $0.52 per share, increasing from its previous dividend of $0.50, with a dividend yield of 4.2%.
• Analysts have raised their price targets for U.S. Bancorp, with the average target price now at $52.55 and a majority rating of "Moderate Buy" among them.

Thurston Springer Miller Herd & Titak Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 49.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,697 shares of the financial services provider's stock after selling 8,453 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in U.S. Bancorp were worth $394,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in shares of U.S. Bancorp in the first quarter worth $26,000. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth $27,000. REAP Financial Group LLC raised its stake in shares of U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the last quarter. YANKCOM Partnership raised its stake in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the first quarter worth $30,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.4%

Shares of USB stock opened at $49.32 on Tuesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year 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. The stock's 50 day simple moving average is $46.88 and its two-hundred day simple moving average is $44.00. The company has a market cap of $76.75 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.2%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's payout ratio is currently 47.85%.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Truist Financial boosted their price target on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Morgan Stanley lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup lifted their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Evercore ISI lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $52.55.

Insider Transactions 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 value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by company 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.

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