Park Place Capital Corp Cuts Position in U.S. Bancorp $USB

Park Place Capital Corp trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,036 shares of the financial services provider’s stock after selling 937 shares during the period. Park Place Capital Corp’s holdings in U.S. Bancorp were worth $513,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bestgate Wealth Advisors LLC raised its holdings in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 253 shares in the last quarter. Atlantic Family Wealth LLC raised its holdings in 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 purchasing an additional 254 shares in the last quarter. YANKCOM Partnership raised its holdings in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Plancorp LLC raised its holdings in U.S. Bancorp by 0.6% during the first 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 in the last quarter. Finally, Formidable Asset Management LLC raised its holdings in U.S. Bancorp by 0.9% during the first quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider’s stock worth $1,175,000 after purchasing an additional 261 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. Truist Financial raised their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Oppenheimer lowered their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. DA Davidson raised their target price on shares of 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 upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.02.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on Monday, July 21st. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $48.94 on Tuesday. The firm’s fifty day moving average price is $47.46 and its 200 day moving average price is $44.42. U.S. Bancorp has a 1-year low of $35.18 and a 1-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 $76.16 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05.

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 for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the firm posted $0.98 EPS. 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. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS 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. Investors of record on Tuesday, September 30th will be given a $0.52 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp’s payout ratio is 49.76%.

About U.S. Bancorp

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.