Exeter Financial LLC Grows Stock Holdings in U.S. Bancorp $USB

Exeter Financial LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,577 shares of the financial services provider’s stock after buying an additional 1,150 shares during the period. U.S. Bancorp comprises 1.4% of Exeter Financial LLC’s portfolio, making the stock its 25th largest holding. Exeter Financial LLC’s holdings in U.S. Bancorp were worth $3,239,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in USB. Nuveen LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $138,183,000. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the period. GAMMA Investing LLC raised its position in U.S. Bancorp by 4,160.7% in the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider’s stock worth $65,340,000 after acquiring an additional 1,511,293 shares during the period. American Century Companies Inc. raised its position in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction on Monday, July 21st. The shares were 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 $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on USB shares. 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 report on Monday, July 7th. Citigroup increased their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Truist Financial increased their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, September 17th. Evercore ISI increased their price objective on shares of 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. Finally, 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 note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.83.

U.S. Bancorp Stock Performance

USB opened at $49.19 on Thursday. The stock has a market capitalization of $76.54 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.55 and a beta of 1.05. The company has a fifty day moving average of $47.25 and a 200 day moving average of $44.23. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two 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 posted its earnings results 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 net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the company posted $0.98 earnings per share. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is 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.