U.S. Bancorp $USB Shares Purchased by Granite Group Advisors LLC

Granite Group Advisors LLC boosted its stake in shares of U.S. Bancorp (NYSE:USBFree Report) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 56,422 shares of the financial services provider’s stock after buying an additional 1,510 shares during the period. U.S. Bancorp makes up 1.5% of Granite Group Advisors LLC’s investment portfolio, making the stock its 13th largest position. Granite Group Advisors LLC’s holdings in U.S. Bancorp were worth $2,553,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Crestwood Advisors Group LLC grew its position in U.S. Bancorp by 10.6% during the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after buying an additional 649 shares during the period. Ally Financial Inc. increased its stake in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares in the last quarter. United Community Bank raised its holdings in U.S. Bancorp by 21.8% in the 1st 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 period. Jump Financial LLC grew its holdings 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 valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in U.S. Bancorp by 9.2% during the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock valued at $27,585,000 after purchasing an additional 55,054 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction dated 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 directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Oppenheimer lowered their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. Evercore ISI lifted their price target 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. Finally, Truist Financial boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.11.

View Our Latest Analysis on USB

U.S. Bancorp Price Performance

USB stock opened at $47.06 on Wednesday. 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 business has a 50 day simple moving average of $47.84 and a 200-day simple moving average of $44.75. The firm has a market capitalization of $73.23 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USBGet Free Report) last announced its quarterly earnings data 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. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. 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. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

U.S. Bancorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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