U.S. Bancorp $USB Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in U.S. Bancorp by 11.6% in Q2, now holding 215,116 shares valued at $9,734,000.
• U.S. Bancorp recently announced a quarterly dividend of $0.52 per share, up from $0.50, with a dividend yield of 4.3%.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging $53.26.

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 11.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 215,116 shares of the financial services provider's stock after acquiring an additional 22,336 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in U.S. Bancorp were worth $9,734,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp raised its holdings in shares of U.S. Bancorp by 5.3% during the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider's stock valued at $217,000 after buying an additional 240 shares during the last quarter. Bestgate Wealth Advisors LLC increased its position in U.S. Bancorp by 3.3% in the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock valued at $339,000 after acquiring an additional 253 shares during the period. Atlantic Family Wealth LLC raised its stake in U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 254 shares in the last quarter. YANKCOM Partnership boosted its position in 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 acquiring an additional 260 shares during the period. Finally, Plancorp LLC grew its stake in shares of U.S. Bancorp by 0.6% in the first 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 in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related 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 value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on USB shares. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Truist Financial raised their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research note on Wednesday, September 17th. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. 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. Finally, Morgan Stanley set a $56.00 target price on U.S. Bancorp and gave the stock an "equal weight" rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $53.26.

U.S. Bancorp Stock Up 0.2%

NYSE USB opened at $48.00 on Monday. 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 $74.69 billion, a P/E ratio of 11.48, a PEG ratio of 1.50 and a beta of 1.06. The company's 50 day simple moving average is $47.61 and its 200 day simple moving average is $44.58. 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 results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities research analysts expect 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. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.76%.

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.

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