Matisse Capital Sells 2,925 Shares of U.S. Bancorp $USB

Matisse Capital decreased its position in U.S. Bancorp (NYSE:USB) by 27.1% during the second quarter, HoldingsChannel.com reports. The fund owned 7,858 shares of the financial services provider’s stock after selling 2,925 shares during the quarter. Matisse Capital’s holdings in U.S. Bancorp were worth $356,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in USB. Nuveen LLC bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. increased its stake in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. increased its stake in U.S. Bancorp by 17.4% in the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in U.S. Bancorp by 124.8% in the 1st quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider’s stock worth $76,121,000 after acquiring an additional 1,001,097 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. 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 insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Oppenheimer dropped their target price on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Finally, DA Davidson lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.11.

U.S. Bancorp Price Performance

USB opened at $47.52 on Wednesday. The business has a fifty day moving average of $47.67 and a 200 day moving average of $44.64. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. 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 stock has a market cap of $73.94 billion, a P/E ratio of 11.37, a PEG ratio of 1.49 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. U.S. Bancorp’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 anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a 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 presently 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.