U.S. Bancorp $USB Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its position in U.S. Bancorp by 45.5% in the first quarter, now holding 7,785 shares valued at <$329,000.
• U.S. Bancorp reported $1.11 earnings per share for the last quarter, surpassing estimates; however, revenue of $7.06 billion was slightly below expectations.
• The company declared a quarterly dividend of $0.50 per share, representing an annual yield of 4.1%, with a payout ratio of 47.85%.

AlphaQuest LLC lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,785 shares of the financial services provider's stock after selling 6,491 shares during the period. AlphaQuest LLC's holdings in U.S. Bancorp were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of USB. Allstate Corp increased its stake in U.S. Bancorp by 12.1% in the 1st quarter. Allstate Corp now owns 52,195 shares of the financial services provider's stock worth $2,204,000 after acquiring an additional 5,619 shares during the last quarter. Kestra Advisory Services LLC increased its stake in U.S. Bancorp by 2.9% in the 1st quarter. Kestra Advisory Services LLC now owns 175,919 shares of the financial services provider's stock worth $7,427,000 after acquiring an additional 4,905 shares during the last quarter. Norinchukin Bank The increased its stake in U.S. Bancorp by 14.8% in the 1st quarter. Norinchukin Bank The now owns 78,763 shares of the financial services provider's stock worth $3,325,000 after acquiring an additional 10,137 shares during the last quarter. Summit Financial LLC increased its stake in U.S. Bancorp by 15.1% in the 1st quarter. Summit Financial LLC now owns 38,954 shares of the financial services provider's stock worth $1,645,000 after acquiring an additional 5,113 shares during the last quarter. Finally, Partners Capital Investment Group LLP increased its stake in U.S. Bancorp by 91.3% in the 1st quarter. Partners Capital Investment Group LLP now owns 187,852 shares of the financial services provider's stock worth $7,931,000 after acquiring an additional 89,673 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.4%

Shares of USB traded up $0.20 during mid-day trading on Friday, hitting $48.87. The company's stock had a trading volume of 12,069,872 shares, compared to its average volume of 7,839,136. The company's 50-day moving average is $46.25 and its 200-day moving average is $43.87. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market capitalization of $76.05 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.53 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

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 for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analysts' expectations 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 was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid 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 was Monday, June 30th. U.S. Bancorp's dividend payout ratio is 47.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on USB shares. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. TD Cowen started coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Truist Financial boosted their target price on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Evercore ISI boosted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

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.