Voleon Capital Management LP Takes Position in U.S. Bancorp $USB

Key Points

• Voleon Capital Management LP acquired 149,656 shares of U.S. Bancorp, valued at approximately $6.3 million, marking it as a new position during the first quarter of this year.
• U.S. Bancorp reported $1.11 EPS for the last quarter, surpassing expectations by $0.04, alongside a revenue of $7.06 billion.
• The company recently announced a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 4.1%.

Voleon Capital Management LP bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 149,656 shares of the financial services provider's stock, valued at approximately $6,318,000.

Other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. increased its holdings in shares of U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after purchasing an additional 78,146 shares during the period. Crestwood Advisors Group LLC increased its holdings in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 649 shares during the period. Ally Financial Inc. increased its holdings in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider's stock valued at $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank increased its holdings in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Finally, Jump Financial LLC boosted its stake in shares of U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider's stock valued at $35,478,000 after buying an additional 799,368 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Price Performance

USB traded down $0.19 during trading on Friday, reaching $49.13. 8,103,162 shares of the stock were exchanged, compared to its average volume of 8,405,860. The business's 50 day moving average price is $46.85 and its two-hundred day moving average price is $44.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $76.46 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.55 and a beta of 1.05. 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 posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.U.S. Bancorp's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the company'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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Evercore ISI lifted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Morgan Stanley lifted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Citigroup lifted their price target on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.55.

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.