U.S. Bancorp $USB Shares Acquired by AdvisorNet Financial Inc

AdvisorNet Financial Inc raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,017 shares of the financial services provider’s stock after acquiring an additional 1,598 shares during the quarter. AdvisorNet Financial Inc’s holdings in U.S. Bancorp were worth $453,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wesbanco Bank Inc. lifted its holdings in shares of U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the last quarter. Ally Financial Inc. lifted its holdings 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 during the last quarter. United Community Bank lifted its holdings in shares of 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 valued at $2,072,000 after purchasing an additional 8,796 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of U.S. Bancorp by 1,952.5% in the 1st 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 last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on USB. Citigroup boosted their target price on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial upped their price objective 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. Evercore ISI upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. Finally, Oppenheimer reduced their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.83.

U.S. Bancorp Stock Performance

NYSE USB opened at $49.19 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $47.25 and its two-hundred day moving average is $44.23. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The stock has a market capitalization of $76.54 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.55 and a beta of 1.05.

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. 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 quarter in the previous year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 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 presently 47.85%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp 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 transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, 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 SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

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.