U.S. Bancorp $USB Shares Bought by Covea Finance

Key Points

• Covea Finance has increased its stake in U.S. Bancorp by 21% during the second quarter, owning 101,600 shares valued at approximately $4.6 million as of the latest filing.
• U.S. Bancorp has declared a quarterly dividend increase to $0.52 per share, up from $0.50, reflecting a 4.2% yield and a payout ratio of 47.85%.
• The bank's most recent earnings report showed a quarterly EPS of $1.11, exceeding estimates, while revenue rose 2% year-over-year despite a slight miss against consensus projections.

Covea Finance lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,600 shares of the financial services provider's stock after buying an additional 17,600 shares during the period. Covea Finance's holdings in U.S. Bancorp were worth $4,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $26,000. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $27,000. REAP Financial Group LLC boosted its position 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 worth $31,000 after purchasing an additional 297 shares during the period. YANKCOM Partnership boosted its position 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 worth $29,000 after purchasing an additional 260 shares during the period. Finally, Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business's 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 transaction, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Down 1.7%

Shares of NYSE USB opened at $49.54 on Tuesday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a market capitalization of $77.09 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05. 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 firm's 50-day moving average is $47.11 and its two-hundred day moving average is $44.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. DA Davidson raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Morgan Stanley raised their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.88.

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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