Lecap Asset Management Ltd. Has $465,000 Position in U.S. Bancorp $USB

Lecap Asset Management Ltd. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 49.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,286 shares of the financial services provider’s stock after selling 10,154 shares during the quarter. Lecap Asset Management Ltd.’s holdings in U.S. Bancorp were worth $465,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Bestgate Wealth Advisors LLC raised its stake in 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 acquiring an additional 253 shares in the last quarter. Atlantic Family Wealth LLC raised its stake in U.S. Bancorp by 4.2% during the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 254 shares in the last quarter. YANKCOM Partnership raised its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Plancorp LLC raised its stake 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 in the last quarter. Finally, Formidable Asset Management LLC raised its stake in U.S. Bancorp by 0.9% during the first quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider’s stock worth $1,175,000 after acquiring an additional 261 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of USB stock opened at $48.00 on Friday. The stock has a 50-day moving average price of $47.61 and a 200 day moving average price of $44.55. 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 firm has a market cap of $74.69 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.52 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio is 49.76%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Saturday, September 27th. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Truist Financial raised their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, September 17th. Finally, Citigroup raised their target price on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. One 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 given a Sell rating to the company. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.26.

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.