Price T Rowe Associates Inc. MD Cuts Stock Holdings in U.S. Bancorp $USB

Key Points

• Price T Rowe Associates Inc. reduced its stake in U.S. Bancorp by 2.6%, owning approximately $562 million worth of shares after selling 355,073 shares in the first quarter.
• Multiple hedge funds, such as Wesbanco Bank Inc. and Crestwood Advisors Group LLC, have increased their positions in U.S. Bancorp, showcasing a general trend of institutional investment in the company.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, exceeding expectations, and declared a quarterly dividend of $0.50 per share, reflecting a 4.1% yield.

Price T Rowe Associates Inc. MD lessened its stake in U.S. Bancorp (NYSE:USB - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,318,490 shares of the financial services provider's stock after selling 355,073 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.85% of U.S. Bancorp worth $562,308,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Westend Capital Management LLC bought a new stake in U.S. Bancorp during the 1st quarter valued at $27,000. YANKCOM Partnership raised its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 260 shares during the period. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp during the 1st quarter valued at $30,000. REAP Financial Group LLC raised its holdings in U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 420 shares during the period. Institutional investors own 77.60% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial raised shares of 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 report on Monday, July 7th. Cowen assumed coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Truist Financial boosted their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. DA Davidson boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Price Performance

Shares of USB traded up $0.44 during mid-day trading on Tuesday, reaching $48.60. 9,279,967 shares of the stock traded hands, compared to its average volume of 10,556,047. The firm has a fifty day moving average price of $45.80 and a 200 day moving average price of $43.78. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.51 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 has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly 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 firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The business's revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.1%. 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.