U.S. Bancorp $USB Holdings Lifted by Coerente Capital Management

Key Points

• Coerente Capital Management increased its stake in U.S. Bancorp by 2.5% during the second quarter, now holding 426,429 shares valued at approximately $19.3 million, making it the fund's 12th largest position.
• U.S. Bancorp announced a quarterly dividend of $0.52, increasing from the previous $0.50, with a yield of 4.4%, set to be paid on October 15th.
• Analysts have shown confidence in U.S. Bancorp, with ratings varying from Buy to Hold, and price targets set between $52.00 and $66.00, indicating a favorable outlook on the stock.

Coerente Capital Management grew its position in U.S. Bancorp (NYSE:USB - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 426,429 shares of the financial services provider's stock after purchasing an additional 10,442 shares during the period. U.S. Bancorp makes up approximately 3.5% of Coerente Capital Management's holdings, making the stock its 12th biggest position. Coerente Capital Management's holdings in U.S. Bancorp were worth $19,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Brighton Jones LLC grew its position in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Capital Investment Advisors LLC grew its position in U.S. Bancorp by 10.1% in the 1st quarter. Capital Investment Advisors LLC now owns 7,871 shares of the financial services provider's stock worth $332,000 after purchasing an additional 722 shares during the last quarter. Farther Finance Advisors LLC grew its position in U.S. Bancorp by 189.0% in the 1st quarter. Farther Finance Advisors LLC now owns 41,810 shares of the financial services provider's stock worth $1,746,000 after purchasing an additional 27,343 shares during the last quarter. GAMMA Investing LLC grew its position in U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider's stock worth $1,548,000 after purchasing an additional 333 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $205,000. Institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

USB has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. DA Davidson increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the company an "equal weight" rating in a report on Monday, September 29th. Finally, Evercore ISI increased 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 report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and an average price target of $53.11.

U.S. Bancorp Stock Up 0.2%

USB stock opened at $47.07 on Friday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month 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. The company has a market cap of $73.25 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.47 and a beta of 1.06. The company has a 50 day moving average of $47.73 and a two-hundred day moving average of $44.68.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. U.S. Bancorp's payout ratio is currently 49.76%.

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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