U.S. Bancorp $USB Shares Sold by Columbia Asset Management

Key Points

• Columbia Asset Management reduced its stake in U.S. Bancorp by 48.7%, holding 29,618 shares valued at approximately $1.34 million after selling 28,150 shares in the second quarter.
• U.S. Bancorp recently increased its quarterly dividend to $0.52 per share, up from $0.50, with an annualized yield of 4.3% and a payout ratio of 47.85%.
• Analysts have a consensus "Moderate Buy" rating on U.S. Bancorp, with a price target averaging $53.26, showing a range of sentiment from "Strong Buy" to "Sell" ratings.

Columbia Asset Management trimmed its position in U.S. Bancorp (NYSE:USB - Free Report) by 48.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,618 shares of the financial services provider's stock after selling 28,150 shares during the period. Columbia Asset Management's holdings in U.S. Bancorp were worth $1,340,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. Bestgate Wealth Advisors LLC grew its stake in shares of U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after purchasing an additional 253 shares in the last quarter. Atlantic Family Wealth LLC grew its stake in shares of U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after purchasing an additional 254 shares in the last quarter. YANKCOM Partnership grew its stake in shares of 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 purchasing an additional 260 shares in the last quarter. Plancorp LLC grew its stake in shares of U.S. Bancorp by 0.6% during 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. Finally, Formidable Asset Management LLC grew its stake in shares of U.S. Bancorp by 0.9% during the first quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider's stock worth $1,175,000 after purchasing an additional 261 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on USB shares. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI upped 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 research note on Tuesday. Citigroup upped their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an "outperform" rating for the company in a research note on Tuesday, September 23rd. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $53.26.

Insider Transactions at U.S. Bancorp

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

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.34 on Wednesday. The company has a 50-day simple moving average of $47.51 and a 200-day simple moving average of $44.45. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $75.23 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.53 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results 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 business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm 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 $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change 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 4.3%. U.S. Bancorp's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.