U.S. Bancorp $USB Shares Bought by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. has increased its holdings in U.S. Bancorp by 20.2% during the first quarter, now owning 146,242 shares worth approximately $6.17 million.
• U.S. Bancorp reported an EPS of $1.11 for the last quarter, exceeding analysts' expectations of $1.07, and had a revenue of $7.06 billion, slightly below the consensus estimate.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.2%, with a payout ratio of 47.85%.

Harvest Portfolios Group Inc. boosted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,242 shares of the financial services provider's stock after acquiring an additional 24,540 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in U.S. Bancorp were worth $6,174,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Westend Capital Management LLC purchased a new stake in U.S. Bancorp in the first quarter worth about $27,000. YANKCOM Partnership increased its position in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the first quarter worth about $30,000. REAP Financial Group LLC increased its position in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after buying an additional 297 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after buying an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Up 0.4%

Shares of NYSE:USB traded up $0.20 during trading on Friday, hitting $48.87. The company had a trading volume of 12,069,872 shares, compared to its average volume of 7,839,136. The stock has a market cap of $76.05 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a fifty day simple moving average of $46.25 and a two-hundred day simple moving average of $43.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company earned $0.98 EPS. The company'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. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. DA Davidson upped their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley upped their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Evercore ISI upped their price objective 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. Finally, TD Cowen assumed coverage on U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by insiders.

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.