Patton Fund Management Inc. Makes New $250,000 Investment in U.S. Bancorp $USB

Patton Fund Management Inc. bought a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, HoldingsChannel reports. The fund bought 5,517 shares of the financial services provider’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of U.S. Bancorp by 9.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 6,738 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 602 shares during the period. Versant Capital Management Inc lifted its holdings in shares of U.S. Bancorp by 361.6% during the first quarter. Versant Capital Management Inc now owns 5,618 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 4,401 shares during the period. GAMMA Investing LLC lifted its holdings in shares of U.S. Bancorp by 4,160.7% during the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider’s stock worth $65,340,000 after purchasing an additional 1,511,293 shares during the period. Finally, Tompkins Financial Corp acquired a new position in shares of U.S. Bancorp during the first quarter worth $95,000. 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 business’s stock in a transaction dated Monday, July 21st. The shares were 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 of the company’s stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Up 0.8%

USB opened at $49.42 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. 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 company has a market cap of $76.91 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The company has a fifty day moving average price of $47.40 and a two-hundred day moving average price of $44.35.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. 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 announced 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. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. U.S. Bancorp’s payout ratio is presently 47.85%.

Analyst Ratings Changes

A number of equities analysts have recently commented on USB shares. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Raymond James Financial upgraded shares of 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. Evercore ISI boosted their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a report on Wednesday, June 4th. Truist Financial boosted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, September 17th. Finally, The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.83.

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.