Concurrent Investment Advisors LLC Has $2.85 Million Stock Position in U.S. Bancorp $USB

Concurrent Investment Advisors LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,934 shares of the financial services provider’s stock after purchasing an additional 1,001 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,848,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Saudi Central Bank acquired a new stake in U.S. Bancorp in the first quarter worth about $26,000. Westend Capital Management LLC acquired a new stake in U.S. Bancorp in the first quarter worth about $27,000. YANKCOM Partnership increased its position in U.S. Bancorp by 59.4% in 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 during the period. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp in the first quarter worth about $30,000. Finally, Cornerstone Planning Group LLC increased its position in U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $46.16 on Tuesday. 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 stock’s fifty day moving average price is $47.79 and its two-hundred day moving average price is $44.73. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market cap of $71.83 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.33 and a beta of 1.06.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. U.S. Bancorp’s payout ratio is currently 49.76%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on USB. 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. DA Davidson lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Truist Financial boosted their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.11.

U.S. Bancorp 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.