City Holding Co. Trims Stock Position in U.S. Bancorp $USB

City Holding Co. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,040 shares of the financial services provider’s stock after selling 385 shares during the quarter. City Holding Co.’s holdings in U.S. Bancorp were worth $183,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bestgate Wealth Advisors LLC raised its position in shares of U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock valued at $339,000 after buying an additional 253 shares during the period. Atlantic Family Wealth LLC raised its position in shares of U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider’s stock valued at $266,000 after buying an additional 254 shares during the period. YANKCOM Partnership raised its position in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares during the period. Plancorp LLC raised its position in shares of U.S. Bancorp by 0.6% during the 1st quarter. Plancorp LLC now owns 45,473 shares of the financial services provider’s stock valued at $1,920,000 after buying an additional 260 shares during the period. Finally, Formidable Asset Management LLC increased its holdings in U.S. Bancorp by 0.9% in the 1st quarter. Formidable Asset Management LLC now owns 27,830 shares of the financial services provider’s stock valued at $1,175,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $49.42 on Monday. The company has a fifty day simple moving average of $47.40 and a two-hundred day simple moving average of $44.38. The company has a market cap of $76.91 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth 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. 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 posted its quarterly 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 business 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 company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.85%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer dropped their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Evercore ISI lifted 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. Citigroup lifted their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Truist Financial lifted 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, Morgan Stanley lifted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.83.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The sale 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.

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.