U.S. Bancorp $USB Shares Bought by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in U.S. Bancorp by 26.9% during the first quarter, owning 659,018 shares valued at $27.8 million.
• The company reported earnings of $1.11 per share, exceeding estimates, with quarterly revenue of $7.06 billion and a net margin of 16.3%.
• U.S. Bancorp announced a quarterly dividend of $0.50, resulting in an annualized dividend yield of 4.1%, with a dividend payout ratio of 47.85%.

Lansforsakringar Fondforvaltning AB publ raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 26.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,018 shares of the financial services provider's stock after purchasing an additional 139,835 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in U.S. Bancorp were worth $27,824,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of USB. Westend Capital Management LLC purchased a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% during 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 during the period. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. REAP Financial Group LLC grew its stake in U.S. Bancorp by 86.1% during 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 during the period. Finally, Cornerstone Planning Group LLC grew its stake in U.S. Bancorp by 118.0% during 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 during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on USB. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Truist Financial upped their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Citigroup upped their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Finally, Evercore ISI upped their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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 the stock in a transaction on 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 sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This 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 the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Down 0.7%

NYSE USB traded down $0.33 during trading hours on Tuesday, reaching $48.50. 4,738,576 shares of the company traded hands, compared to its average volume of 10,518,644. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $75.48 billion, a PE ratio of 11.60, a PEG ratio of 1.53 and a beta of 1.05. The company has a 50 day moving average of $46.34 and a two-hundred day moving average of $43.83.

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 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 firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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