Waycross Partners LLC Purchases New Stake in U.S. Bancorp $USB

Waycross Partners LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, Holdings Channel reports. The fund purchased 7,021 shares of the financial services provider’s stock, valued at approximately $318,000.

Other large investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. raised its position in U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after buying an additional 78,146 shares during the period. Crestwood Advisors Group LLC raised its position in U.S. Bancorp by 10.6% during 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 period. Ally Financial Inc. raised its position in 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 valued at $3,842,000 after buying an additional 10,000 shares during the period. United Community Bank raised its position in 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 valued at $2,072,000 after buying an additional 8,796 shares during the period. Finally, Jump Financial LLC raised its position in U.S. Bancorp by 1,952.5% during the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after buying an additional 799,368 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the 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 completion of the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on USB shares. Oppenheimer dropped their price target on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday. Citigroup upped their target price on U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group upped their target price 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 upped their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Finally, Evercore ISI upped their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

U.S. Bancorp Stock Performance

USB opened at $49.34 on Wednesday. The company has a market cap of $76.78 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The stock has a 50-day moving average of $47.18 and a 200-day moving average of $44.20. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. 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 (NYSE:USB) last released its quarterly earnings results 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. The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business 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 boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. U.S. Bancorp’s dividend payout ratio is currently 47.85%.

U.S. Bancorp Company 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.