Triangle Securities Wealth Management Trims Stake in U.S. Bancorp $USB

Key Points

• Triangle Securities Wealth Management reduced its holdings in U.S. Bancorp by **63.8%**, ending the second quarter with **6,657 shares** valued at **$301,000**.
• U.S. Bancorp announced a quarterly dividend of **$0.52 per share**, an increase from its previous dividend, resulting in an annualized yield of **4.1%**.
• Several analysts upgraded their price targets for U.S. Bancorp, with the consensus target now at **$52.88**, indicating a generally positive outlook for the stock.

Triangle Securities Wealth Management lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 63.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,657 shares of the financial services provider's stock after selling 11,754 shares during the period. Triangle Securities Wealth Management's holdings in U.S. Bancorp were worth $301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of U.S. Bancorp by 4,160.7% in the first 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. American Century Companies Inc. increased its holdings in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock valued at $425,163,000 after acquiring an additional 1,493,318 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $64,257,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

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

U.S. Bancorp Trading Up 0.3%

Shares of NYSE:USB traded up $0.13 during trading on Friday, reaching $50.34. The company's stock had a trading volume of 20,595,297 shares, compared to its average volume of 9,455,050. The stock 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 company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm's 50 day simple moving average is $47.06 and its two-hundred day simple moving average is $44.13. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Activity at U.S. Bancorp

In related 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 directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company's stock.

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.