U.S. Bancorp $USB Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 92.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,735 shares of the financial services provider's stock after selling 55,406 shares during the quarter. BNC Wealth Management LLC's holdings in U.S. Bancorp were worth $214,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in USB. Nuveen LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $138,183,000. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of U.S. Bancorp by 4,160.7% during the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after acquiring an additional 1,511,293 shares in the last quarter. American Century Companies Inc. boosted its position in shares of U.S. Bancorp by 17.4% in the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock valued at $425,163,000 after purchasing an additional 1,493,318 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $64,257,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on USB shares. Truist Financial upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday, September 17th. The Goldman Sachs Group upped their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Oppenheimer decreased their target price on U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.83.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on 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 in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $49.34 on Wednesday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a market capitalization of $76.78 billion, a P/E ratio of 11.80, a PEG ratio of 1.55 and a beta of 1.05. The business has a 50 day moving average price of $47.18 and a 200 day moving average price of $44.20. 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 released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. U.S. Bancorp's payout ratio is 47.85%.

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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