Penobscot Investment Management Company Inc. Sells 941 Shares of U.S. Bancorp $USB

Penobscot Investment Management Company Inc. reduced its position in U.S. Bancorp (NYSE:USB) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,831 shares of the financial services provider’s stock after selling 941 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in U.S. Bancorp were worth $490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Saudi Central Bank bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at approximately $26,000. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at approximately $27,000. YANKCOM Partnership grew its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at approximately $30,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 420 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on USB. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the company an “equal weight” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Saturday, September 27th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. 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. Finally, Citigroup boosted their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.26.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Up 0.2%

Shares of NYSE USB opened at $48.00 on Friday. The company has a market capitalization of $74.69 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50 day moving average price is $47.61 and its 200-day moving average price is $44.57.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. 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 of this dividend is Tuesday, September 30th. U.S. Bancorp’s payout ratio is currently 49.76%.

U.S. Bancorp Company 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.