Iron Horse Wealth Management LLC Increases Stock Position in U.S. Bancorp $USB

Iron Horse Wealth Management LLC increased its position in U.S. Bancorp (NYSE:USB) by 376.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,278 shares of the financial services provider’s stock after acquiring an additional 1,800 shares during the period. Iron Horse Wealth Management LLC’s holdings in U.S. Bancorp were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in USB. Nuveen LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at $138,183,000. Vanguard Group Inc. raised its stake in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after buying an additional 2,393,383 shares during the last quarter. American Century Companies Inc. raised its stake in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after buying an additional 1,493,318 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in U.S. Bancorp by 124.8% during the 1st quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider’s stock valued at $76,121,000 after buying an additional 1,001,097 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.2%

NYSE:USB opened at $48.00 on Friday. U.S. Bancorp has a one year low of $35.18 and a one 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 capitalization of $74.69 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The business has a fifty day moving average price of $47.61 and a 200-day moving average price of $44.57.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared 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 represents a $2.08 dividend on an annualized basis and a yield of 4.3%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is presently 49.76%.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on USB shares. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday, September 29th. Oppenheimer decreased their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. DA Davidson upped 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. Truist Financial upped their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group upped their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.26.

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.