U.S. Bancorp $USB Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in U.S. Bancorp by 1.7%, owning approximately 1,069,280 shares valued at $48.4 million as of the latest SEC filing.
• U.S. Bancorp declared a quarterly dividend increase to $0.52, up from the previous $0.50, reflecting a dividend yield of 4.3%.
• Analysts have set an average price target of $53.26 for U.S. Bancorp, with various firms issuing ratings ranging from "Strong Buy" to "Sell."

Truist Financial Corp cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,069,280 shares of the financial services provider's stock after selling 18,389 shares during the quarter. Truist Financial Corp owned about 0.07% of U.S. Bancorp worth $48,385,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Nuveen LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth about $138,183,000. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. American Century Companies Inc. increased its stake in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider's stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of U.S. Bancorp by 124.8% during the first quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider's stock worth $76,121,000 after acquiring an additional 1,001,097 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.1%

Shares of USB opened at $47.91 on Friday. 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 firm's 50-day moving average is $47.57 and its two-hundred day moving average is $44.51. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market capitalization of $74.56 billion, a P/E ratio of 11.46, a PEG ratio of 1.50 and a beta of 1.06.

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 the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm 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 a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent analyst reports. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the stock an "equal weight" rating in a research note on Monday. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. 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. DA Davidson boosted their price target on shares of 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, Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.26.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 70,346 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

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.

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