Waycross Partners LLC Takes $318,000 Position in U.S. Bancorp $USB

Key Points

• Waycross Partners LLC has acquired a new position in U.S. Bancorp, purchasing 7,021 shares valued at approximately $318,000.
• Recent analyst ratings indicate a positive outlook for U.S. Bancorp, with several firms raising their price targets and maintaining "buy" ratings.
• U.S. Bancorp has increased its quarterly dividend to $0.52 per share, up from the previous dividend of $0.50, reflecting a 4.2% yield.

Waycross Partners LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,021 shares of the financial services provider's stock, valued at approximately $318,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new position in U.S. Bancorp during the 1st quarter worth $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp during the 1st quarter worth $27,000. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after buying an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the 1st quarter worth $30,000. Finally, REAP Financial Group LLC grew its stake 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 worth $31,000 after buying an additional 297 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

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 transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on USB shares. Citigroup upped their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday. DA Davidson boosted their price target 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. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Truist Financial boosted their price target 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. Finally, The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. One equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.83.

U.S. Bancorp Trading Down 0.3%

Shares of U.S. Bancorp stock opened at $49.34 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm has a market cap of $76.78 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The business has a fifty day simple moving average of $47.18 and a 200-day simple moving average of $44.20. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This is a positive change 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 of this dividend is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

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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