U.S. Bancorp $USB Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lessened its stake in U.S. Bancorp (NYSE:USB) by 5.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,463 shares of the financial services provider’s stock after selling 2,812 shares during the period. Independence Bank of Kentucky’s holdings in U.S. Bancorp were worth $2,283,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in USB. Brighton Jones LLC increased its position in U.S. Bancorp by 323.0% during the 4th 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. Versant Capital Management Inc increased its position in U.S. Bancorp by 361.6% during the 1st 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 increased its position in U.S. Bancorp by 4,160.7% during the 1st 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. Cascade Investment Advisors Inc. increased its position in U.S. Bancorp by 2.8% during the 1st quarter. Cascade Investment Advisors Inc. now owns 67,400 shares of the financial services provider’s stock worth $2,846,000 after purchasing an additional 1,850 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in U.S. Bancorp by 1.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 20,323 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company’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 value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. DA Davidson upped their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Citigroup raised their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Finally, Evercore ISI lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. One equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

U.S. Bancorp Price Performance

USB stock opened at $49.42 on Monday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day moving average price is $47.40 and its 200 day moving average price is $44.38. The firm has a market cap of $76.91 billion, a P/E ratio of 11.82, a PEG ratio of 1.55 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. U.S. Bancorp’s revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is currently 47.85%.

U.S. Bancorp Company 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.