QRG Capital Management Inc. Grows Position in U.S. Bancorp $USB

QRG Capital Management Inc. boosted its position in shares of U.S. Bancorp (NYSE:USB) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,575 shares of the financial services provider’s stock after buying an additional 6,844 shares during the period. QRG Capital Management Inc.’s holdings in U.S. Bancorp were worth $4,415,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of USB. Wesbanco Bank Inc. raised its position in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after buying an additional 649 shares during the last quarter. Ally Financial Inc. boosted its stake in shares of U.S. Bancorp by 12.3% during the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after buying an additional 10,000 shares during the period. United Community Bank grew its holdings in shares of U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after buying an additional 8,796 shares during the last quarter. Finally, Jump Financial LLC increased its position in U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after acquiring an additional 799,368 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE 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 one year low of $35.18 and a one year high of $53.98. The firm has a market capitalization of $74.28 billion, a P/E ratio of 11.42, a PEG ratio of 1.50 and a beta of 1.06. The company’s fifty day moving average is $47.64 and its two-hundred day moving average is $44.62.

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, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. The Goldman Sachs Group increased their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Raymond James Financial raised 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 report on Monday, July 7th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company 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 assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $53.26.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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.