Matisse Capital Reduces Position in U.S. Bancorp $USB

Matisse Capital cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 27.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,858 shares of the financial services provider’s stock after selling 2,925 shares during the period. Matisse Capital’s holdings in U.S. Bancorp were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Crestwood Advisors Group LLC boosted its position in U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 649 shares during the last quarter. Ally Financial Inc. boosted its position in U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 10,000 shares during the last quarter. United Community Bank boosted its position in U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Jump Financial LLC boosted its position in U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after purchasing an additional 799,368 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in U.S. Bancorp by 9.2% in the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock worth $27,585,000 after purchasing an additional 55,054 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 0.4%

NYSE USB opened at $47.52 on Wednesday. The stock’s 50 day moving average is $47.67 and its 200 day moving average is $44.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $73.94 billion, a PE ratio of 11.37, a P/E/G ratio of 1.49 and a beta of 1.06.

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, topping analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The company had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal 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 4.4%. 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.

Analyst Ratings Changes

Several research analysts have issued reports on USB shares. Morgan Stanley set a $56.00 target price on U.S. Bancorp and gave the stock an “equal weight” rating in a research report on Monday, September 29th. UBS Group raised their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI raised their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.11.

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.