U.S. Bancorp $USB Shares Acquired by First Pacific Financial

Key Points

• First Pacific Financial significantly increased its stake in U.S. Bancorp by 2,932.4% during the second quarter, acquiring an additional 12,580 shares and raising its total holdings to 13,009 shares valued at approximately $589,000.
• U.S. Bancorp announced a quarterly dividend increase to $0.52 per share, with a dividend yield of 4.3%, set to be paid on October 15th, after having previously paid $0.50.
• Following its latest earnings report, U.S. Bancorp reported an EPS of $1.11, beating estimates by $0.04, while revenue increased by 2.0% year-over-year to $7.06 billion.

First Pacific Financial boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2,932.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 13,009 shares of the financial services provider's stock after acquiring an additional 12,580 shares during the quarter. First Pacific Financial's holdings in U.S. Bancorp were worth $589,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of USB. Bestgate Wealth Advisors LLC lifted its holdings in shares of U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after acquiring an additional 253 shares during the period. Atlantic Family Wealth LLC lifted its position in shares of U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after purchasing an additional 254 shares in the last quarter. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares during the last quarter. Plancorp LLC increased its holdings in U.S. Bancorp by 0.6% during the 1st quarter. Plancorp LLC now owns 45,473 shares of the financial services provider's stock worth $1,920,000 after purchasing an additional 260 shares during the last quarter. Finally, Formidable Asset Management LLC grew its position in shares of U.S. Bancorp by 0.9% during the first quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider's stock worth $1,175,000 after buying an additional 261 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $48.34 on Wednesday. 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 company has a market cap of $75.23 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The firm has a fifty day moving average price of $47.51 and a two-hundred day moving average price of $44.45. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating 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 business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade 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 at this link. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

USB has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target 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. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Citigroup increased their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Evercore ISI raised their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a report on Tuesday. Finally, Truist Financial upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.26.

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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