U.S. Bancorp $USB Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 42.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,981 shares of the financial services provider’s stock after selling 44,411 shares during the period. Synergy Asset Management LLC’s holdings in U.S. Bancorp were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank acquired a new position in shares of U.S. Bancorp in the first quarter worth about $26,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $27,000. YANKCOM Partnership increased its stake in shares of 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 purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp during the 1st quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC grew its stake in U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 420 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on USB shares. Citigroup increased their price target on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. DA Davidson increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial increased their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $51.00 to $57.00 in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.26.

U.S. Bancorp Trading Up 0.1%

NYSE USB opened at $47.91 on Friday. 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 has a market cap of $74.56 billion, a PE ratio of 11.46, a P/E/G ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm’s fifty day moving average is $47.57 and its two-hundred day moving average is $44.51.

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

U.S. Bancorp Increases Dividend

The business 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 is an increase 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%. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 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.