DAVENPORT & Co LLC Has $9.12 Million Stock Position in U.S. Bancorp $USB

DAVENPORT & Co LLC raised its stake in U.S. Bancorp (NYSE:USB) by 2.9% during the 2nd quarter, Holdings Channel reports. The fund owned 201,621 shares of the financial services provider’s stock after acquiring an additional 5,655 shares during the period. DAVENPORT & Co LLC’s holdings in U.S. Bancorp were worth $9,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Mechanics Financial Corp boosted its stake in U.S. Bancorp by 5.3% in the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares during the period. Bestgate Wealth Advisors LLC lifted its holdings in shares of U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after buying an additional 253 shares in the last quarter. Atlantic Family Wealth LLC boosted its position in shares of U.S. Bancorp by 4.2% in the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 254 shares during the period. YANKCOM Partnership grew its stake in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares in the last quarter. Finally, Plancorp LLC increased its position in U.S. Bancorp by 0.6% during the first quarter. Plancorp LLC now owns 45,473 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 260 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Saturday, September 27th. Oppenheimer reduced their price target on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Truist Financial raised their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of the company’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 transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.7%

Shares of USB opened at $47.73 on Tuesday. 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 has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a market cap of $74.28 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.50 and a beta of 1.06. The business’s fifty day moving average is $47.64 and its 200-day moving average is $44.62.

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 for the quarter, beating the consensus estimate 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 business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the firm posted $0.98 earnings per share. 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. Equities analysts anticipate 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. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis 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 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.