Western Pacific Wealth Management LP Has $303,000 Position in U.S. Bancorp $USB

Western Pacific Wealth Management LP reduced its position in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,703 shares of the financial services provider’s stock after selling 304 shares during the quarter. Western Pacific Wealth Management LP’s holdings in U.S. Bancorp were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. lifted its holdings in U.S. Bancorp by 5.4% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 84,550 shares of the financial services provider’s stock worth $3,826,000 after purchasing an additional 4,323 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in U.S. Bancorp by 109.2% during the 2nd quarter. Exchange Traded Concepts LLC now owns 632,818 shares of the financial services provider’s stock worth $28,635,000 after purchasing an additional 330,383 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in U.S. Bancorp by 7.0% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 6,703 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 436 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 585,200 shares of the financial services provider’s stock worth $26,480,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in U.S. Bancorp by 13.7% during the 2nd quarter. Wedmont Private Capital now owns 22,121 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 2,668 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial lifted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Oppenheimer raised their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Finally, Evercore ISI raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.60.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction 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 owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Up 1.2%

Shares of USB opened at $50.20 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business’s fifty day moving average is $46.99 and its 200-day moving average is $44.10. 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 $78.12 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.56 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) 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 analyst estimates of $7.07 billion. During the same quarter last year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio 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.