TruNorth Capital Management LLC Reduces Holdings in U.S. Bancorp $USB

TruNorth Capital Management LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 22.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,720 shares of the financial services provider’s stock after selling 1,364 shares during the period. TruNorth Capital Management LLC’s holdings in U.S. Bancorp were worth $214,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of USB. Brighton Jones LLC lifted its position in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the period. Fiduciary Alliance LLC lifted its position in U.S. Bancorp by 15.5% during the 1st quarter. Fiduciary Alliance LLC now owns 7,142 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 956 shares during the period. NBC Securities Inc. lifted its position in U.S. Bancorp by 101,850.0% during the 1st quarter. NBC Securities Inc. now owns 14,273 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 14,259 shares during the period. Gradient Investments LLC lifted its position in U.S. Bancorp by 48.3% during the 1st quarter. Gradient Investments LLC now owns 7,049 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 2,296 shares during the period. Finally, ST Germain D J Co. Inc. lifted its position in U.S. Bancorp by 9.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 5,657 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 479 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $47.87 on Thursday. The company has a 50 day moving average price of $47.54 and a 200-day moving average price of $44.48. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The firm has a market capitalization of $74.50 billion, a PE ratio of 11.45, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s payout ratio is 49.76%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on USB shares. Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

Insider Activity

In related news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

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.