6,573 Shares in U.S. Bancorp $USB Purchased by Abel Hall LLC

Abel Hall LLC acquired a new position in U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,573 shares of the financial services provider’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 purchasing an additional 2,393,383 shares during the period. Amundi raised its position in U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after purchasing an additional 422,050 shares during the period. Davis Selected Advisers raised its position in U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock worth $628,614,000 after purchasing an additional 513,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock worth $535,312,000 after purchasing an additional 104,185 shares during the period. Finally, Goldman Sachs Group Inc. grew 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 in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on USB shares. Oppenheimer dropped their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday. Truist Financial upped their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, September 17th. Finally, Evercore ISI upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.11.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This trade 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 is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

NYSE USB opened at $47.00 on Thursday. 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 firm’s 50 day moving average price is $47.69 and its 200-day moving average price is $44.65. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a market cap of $73.14 billion, a PE ratio of 11.24, a P/E/G ratio of 1.49 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released 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 net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’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 forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s payout ratio is 49.76%.

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.