Amundi Grows Stake in U.S. Bancorp $USB

Key Points

• Amundi increased its stake in U.S. Bancorp by 2.2% in Q1, owning approximately 1.28% of the company, valued at $773 million after acquiring 422,050 additional shares.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, surpassing expectations, while its revenue rose 2.0% year-over-year despite being below analyst forecasts.
• The company announced a quarterly dividend of $0.50 per share, reflecting a dividend yield of 4.1%, and has set a target of $4.38 for earnings per share for the current year.

Amundi lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,907,665 shares of the financial services provider's stock after purchasing an additional 422,050 shares during the quarter. Amundi owned 1.28% of U.S. Bancorp worth $773,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $26,000. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $27,000. REAP Financial Group LLC raised its stake in shares of U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares during the period. YANKCOM Partnership raised its stake 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 during the period. Finally, Alpine Bank Wealth Management bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Cowen initiated coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. The Goldman Sachs Group upped their target price 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. Truist Financial upped their target price 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. TD Cowen initiated coverage on U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Evercore ISI upped their target price on 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. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $52.55.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Down 0.7%

USB stock traded down $0.36 during trading on Friday, hitting $48.81. 8,040,440 shares of the company traded hands, compared to its average volume of 7,718,509. The firm has a market capitalization of $75.96 billion, a PE ratio of 11.68, a P/E/G ratio of 1.54 and a beta of 1.05. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a 50-day moving average of $46.63 and a 200-day moving average of $43.91. 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 issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.1%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

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.