Strs Ohio Buys New Stake in U.S. Bancorp $USB

Strs Ohio bought a new stake in U.S. Bancorp (NYSE:USB) during the first quarter, HoldingsChannel reports. The institutional investor bought 580,014 shares of the financial services provider’s stock, valued at approximately $24,488,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. Brighton Jones LLC lifted its stake in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after buying an additional 36,863 shares in the last quarter. Gotham Asset Management LLC lifted its stake in U.S. Bancorp by 0.9% in the 4th quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider’s stock valued at $1,564,000 after buying an additional 281 shares in the last quarter. Man Group plc lifted its stake in U.S. Bancorp by 32.8% in the 4th quarter. Man Group plc now owns 48,258 shares of the financial services provider’s stock valued at $2,308,000 after buying an additional 11,926 shares in the last quarter. Quantinno Capital Management LP lifted its stake in U.S. Bancorp by 27.5% in the 4th quarter. Quantinno Capital Management LP now owns 120,997 shares of the financial services provider’s stock valued at $5,787,000 after buying an additional 26,130 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in U.S. Bancorp by 11.5% in the 4th quarter. ProShare Advisors LLC now owns 334,288 shares of the financial services provider’s stock valued at $15,989,000 after buying an additional 34,371 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

USB has been the subject of several analyst reports. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial boosted their price target on U.S. Bancorp from $48.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, July 9th. Evercore ISI boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, June 4th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Finally, DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

U.S. Bancorp Trading Down 0.4%

USB stock opened at $49.13 on Friday. The company has a market cap of $76.46 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.55 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $46.85 and a 200-day simple moving average of $44.01. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last released 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 business had revenue of $7.06 billion during 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 business’s revenue for the quarter 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 research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed 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 represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is currently 47.85%.

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.