TruNorth Capital Management LLC Reduces Holdings in U.S. Bancorp $USB

TruNorth Capital Management LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 22.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,720 shares of the financial services provider’s stock after selling 1,364 shares during the period. TruNorth Capital Management LLC’s holdings in U.S. Bancorp were worth $214,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in USB. Nuveen LLC purchased a new position in U.S. Bancorp during the first quarter valued at approximately $138,183,000. Vanguard Group Inc. lifted its holdings in 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 valued at $5,962,742,000 after purchasing an additional 2,393,383 shares in the last quarter. American Century Companies Inc. lifted its holdings in 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 valued at $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in 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 valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in 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 valued at $76,121,000 after purchasing an additional 1,001,097 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.9%

Shares of USB opened at $47.87 on Thursday. The company’s fifty day moving average is $47.54 and its 200 day moving average is $44.48. 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 capitalization of $74.50 billion, a PE ratio of 11.45, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts expect 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. Investors 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 yield of 4.3%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.76%.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the business’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 sale, the executive vice president 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on USB. Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a report on Monday. DA Davidson boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.26.

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.