U.S. Bancorp $USB Stake Cut by Exchange Capital Management Inc.

Exchange Capital Management Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 18.8% in the second quarter, HoldingsChannel reports. The fund owned 61,329 shares of the financial services provider’s stock after selling 14,227 shares during the quarter. Exchange Capital Management Inc.’s holdings in U.S. Bancorp were worth $2,775,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mechanics Financial Corp lifted its position 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 worth $217,000 after buying an additional 240 shares in the last quarter. Bestgate Wealth Advisors LLC increased its stake in shares of U.S. Bancorp by 3.3% in 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 during the last quarter. Atlantic Family Wealth LLC raised its holdings in shares of 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 boosted its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. Finally, Plancorp LLC increased its position in U.S. Bancorp by 0.6% in the 1st quarter. Plancorp LLC now owns 45,473 shares of the financial services provider’s stock worth $1,920,000 after purchasing an additional 260 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent research reports. Oppenheimer lowered their price target on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company 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 increased their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Citigroup lifted their price objective 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. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a report on Monday. Finally, DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $53.26.

U.S. Bancorp Price Performance

NYSE:USB opened at $47.91 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a fifty day moving average price of $47.57 and a 200 day moving average price of $44.51. The stock has a market cap of $74.56 billion, a P/E ratio of 11.46, a PEG ratio of 1.50 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share 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. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 49.76%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the business’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 transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

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.