U.S. Bancorp $USB Shares Sold by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC significantly reduced its position in U.S. Bancorp by 89.6% in the second quarter, now holding 20,575 shares valued at approximately $941,000.
• U.S. Bancorp recently reported quarterly earnings of $1.11 per share, exceeding analysts' expectations, and announced a dividend increase from $0.50 to $0.52.
• Analysts have generally maintained a positive outlook on U.S. Bancorp, with numerous firms raising their price targets, indicating a consensus rating of "Moderate Buy."

SteelPeak Wealth LLC reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 89.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,575 shares of the financial services provider's stock after selling 177,373 shares during the quarter. SteelPeak Wealth LLC's holdings in U.S. Bancorp were worth $941,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of USB. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $26,000. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $27,000. YANKCOM Partnership raised 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 during the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp during the first quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after purchasing an additional 420 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 1.1%

Shares of USB stock opened at $47.00 on Thursday. 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 $73.14 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.49 and a beta of 1.06. The business has a fifty day simple moving average of $47.69 and a 200-day simple moving average of $44.65. 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 announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating 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 business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. 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. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.52 dividend. 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 dividend yield of 4.4%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is 49.76%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on USB. Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday. Truist Financial upped their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a research note on Wednesday, September 17th. Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. DA Davidson upped their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Citigroup upped their price target on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.11.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's 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 completion of the transaction, 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 filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.

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