RMG Wealth Management LLC Purchases New Stake in U.S. Bancorp $USB

RMG Wealth Management LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,288 shares of the financial services provider’s stock, valued at approximately $286,000.

A number of other hedge funds have also recently modified their holdings of the company. Saudi Central Bank bought a new position in shares of U.S. Bancorp during the first quarter valued at about $26,000. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the 1st quarter valued at about $27,000. YANKCOM Partnership raised its position in 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 purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $30,000. Finally, Rakuten Securities Inc. grew its position in shares of U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock worth $32,000 after buying an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.7%

Shares of NYSE USB opened at $47.73 on Tuesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock has a market cap of $74.28 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The firm has a 50-day moving average of $47.64 and a 200 day moving average of $44.62. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Citigroup upped their price objective 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. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Finally, Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $53.26.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company 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.