Corebridge Financial Inc. Has $15.27 Million Stock Position in U.S. Bancorp $USB

Key Points

• Corebridge Financial Inc. reduced its holdings in U.S. Bancorp by 3.1%, retaining 361,670 shares worth approximately $15.27 million after selling 11,659 shares.
• U.S. Bancorp's most recent earnings report indicated an EPS of $1.11, surpassing analysts' expectations of $1.07, with a revenue of $7.06 billion for the quarter.
• The company declared a quarterly dividend of $0.50 per share, which translates to an annualized dividend yield of 4.2%.

Corebridge Financial Inc. trimmed its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,670 shares of the financial services provider's stock after selling 11,659 shares during the quarter. Corebridge Financial Inc.'s holdings in U.S. Bancorp were worth $15,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wesbanco Bank Inc. raised its holdings in U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after buying an additional 78,146 shares during the period. Crestwood Advisors Group LLC raised its holdings in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after buying an additional 649 shares during the period. Becker Capital Management Inc. raised its holdings in U.S. Bancorp by 1.5% during the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after buying an additional 8,204 shares during the period. United Community Bank raised its holdings in U.S. Bancorp by 21.8% during the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after buying an additional 8,796 shares during the period. Finally, Ally Financial Inc. raised its holdings in U.S. Bancorp by 12.3% during the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock worth $3,842,000 after buying an additional 10,000 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at $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 SEC, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Cowen initiated coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Stock Up 0.4%

Shares of U.S. Bancorp stock traded up $0.20 during trading hours on Friday, reaching $48.87. 12,069,872 shares of the company's stock were exchanged, compared to its average volume of 7,839,136. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock has a market cap of $76.05 billion, a P/E ratio of 11.69, a P/E/G 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. The company has a 50 day moving average of $46.25 and a two-hundred day moving average of $43.85.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. 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, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.1%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

U.S. Bancorp 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.