US Bancorp DE Sells 218,852 Shares of U.S. Bancorp $USB

Key Points

• U.S. Bancorp's holdings were reduced by US Bancorp DE, which sold 218,852 shares, leaving it with 7,386,227 shares, equating to 0.47% ownership, valued at $334.2 million.
• Multiple hedge funds adjusted their positions in U.S. Bancorp, including REAP Financial Group LLC, which increased its holdings by 69.5%.
• U.S. Bancorp recently declared a quarterly dividend of $0.52 per share, raising its annualized yield to 4.4%, with the next payout scheduled for October 15th.

US Bancorp DE cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,386,227 shares of the financial services provider's stock after selling 218,852 shares during the quarter. US Bancorp DE owned 0.47% of U.S. Bancorp worth $334,227,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Armstrong Fleming & Moore Inc bought a new position in shares of U.S. Bancorp during the second quarter worth approximately $218,000. Maryland State Retirement & Pension System increased its holdings in shares of U.S. Bancorp by 4.1% during the second quarter. Maryland State Retirement & Pension System now owns 75,913 shares of the financial services provider's stock worth $3,435,000 after purchasing an additional 3,010 shares during the period. Northern Financial Advisors Inc increased its holdings in shares of U.S. Bancorp by 5.0% during the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider's stock worth $228,000 after purchasing an additional 241 shares during the period. Abel Hall LLC bought a new position in shares of U.S. Bancorp during the second quarter worth approximately $297,000. Finally, REAP Financial Group LLC increased its holdings in shares of U.S. Bancorp by 69.5% during the second quarter. REAP Financial Group LLC now owns 1,775 shares of the financial services provider's stock worth $80,000 after purchasing an additional 728 shares during the period. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of U.S. Bancorp in a report on Wednesday. UBS Group lifted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the company an "equal weight" rating in a research note on Monday, September 29th. Truist Financial lifted 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, September 17th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $53.11.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.00 on Thursday. The firm's fifty day moving average price is $47.69 and its two-hundred day moving average price is $44.65. The stock has a market cap of $73.14 billion, a PE ratio of 11.24, a PEG ratio of 1.49 and a beta of 1.06. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analysts' expectations 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 revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. This is a boost 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 (DPR) is presently 49.76%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was 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 accessible through the SEC website. Company insiders own 0.23% of the company's stock.

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.

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