U.S. Bancorp $USB Shares Sold by Cullinan Associates Inc.

Key Points

• Cullinan Associates Inc. reduced its stake in U.S. Bancorp by 23.2% during Q2, leaving them with 29,350 shares valued at approximately $1.33 million.
• U.S. Bancorp plans to increase its quarterly dividend to $0.52 per share, reflecting an annualized yield of 4.3%.
• Analysts have varying ratings for U.S. Bancorp, with a consensus average rating of "Moderate Buy" and a price target of $53.26.

Cullinan Associates Inc. lessened its stake in U.S. Bancorp (NYSE:USB - Free Report) by 23.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,350 shares of the financial services provider's stock after selling 8,868 shares during the quarter. Cullinan Associates Inc.'s holdings in U.S. Bancorp were worth $1,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC grew its position in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Vest Financial LLC grew its stake in shares of U.S. Bancorp by 73.5% in the first quarter. Vest Financial LLC now owns 12,772 shares of the financial services provider's stock valued at $539,000 after buying an additional 5,411 shares in the last quarter. Procyon Advisors LLC boosted its holdings in U.S. Bancorp by 34.3% in the first quarter. Procyon Advisors LLC now owns 27,214 shares of the financial services provider's stock valued at $1,056,000 after purchasing an additional 6,945 shares during the period. Perennial Advisors LLC boosted its holdings in U.S. Bancorp by 7.8% in the first quarter. Perennial Advisors LLC now owns 99,723 shares of the financial services provider's stock valued at $4,211,000 after purchasing an additional 7,241 shares during the period. Finally, KMG Fiduciary Partners LLC lifted its holdings in U.S. Bancorp by 6.0% during the 1st quarter. KMG Fiduciary Partners LLC now owns 67,623 shares of the financial services provider's stock worth $2,855,000 after buying an additional 3,829 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Truist Financial lifted their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. DA Davidson lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.26.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated 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 $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.00 on Monday. The stock has a market capitalization of $74.69 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The stock's 50-day moving average price is $47.61 and its 200 day moving average price is $44.58. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.3%. U.S. Bancorp's payout ratio is presently 49.76%.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

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.