TCV Trust & Wealth Management Inc. Has $10.25 Million Stock Holdings in U.S. Bancorp $USB

TCV Trust & Wealth Management Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 226,588 shares of the financial services provider’s stock after purchasing an additional 1,874 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in U.S. Bancorp were worth $10,253,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wesbanco Bank Inc. increased its holdings in U.S. Bancorp by 31.6% in the first 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 increased its holdings in 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 purchasing an additional 649 shares during the last quarter. Ally Financial Inc. increased its holdings in U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the last quarter. United Community Bank increased its holdings in U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated 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 approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Citigroup increased their price target on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Raymond James Financial upgraded 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. DA Davidson upped their price objective 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. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $52.60.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $50.20 on Friday. The stock’s fifty day moving average price is $46.99 and its two-hundred day moving average price is $44.10. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $78.12 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05.

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 company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the business posted $0.98 EPS. U.S. Bancorp’s revenue for the quarter was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 4.1%. 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 dividend payout ratio (DPR) is presently 47.85%.

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.