Truist Financial Corp Trims Position in U.S. Bancorp $USB

Truist Financial Corp decreased its position in shares of U.S. Bancorp (NYSE:USB) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,069,280 shares of the financial services provider’s stock after selling 18,389 shares during the quarter. Truist Financial Corp’s holdings in U.S. Bancorp were worth $48,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Saudi Central Bank purchased a new position in U.S. Bancorp during the first quarter worth approximately $26,000. Westend Capital Management LLC purchased a new position in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership raised its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management purchased a new position in U.S. Bancorp during the first quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC raised its stake in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a research note on Monday. Oppenheimer cut their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Truist Financial increased their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

U.S. Bancorp Price Performance

USB opened at $47.91 on Friday. The company has a fifty day simple moving average of $47.57 and a 200 day simple moving average of $44.51. The firm has a market cap of $74.56 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a twelve month low of $35.18 and a twelve month 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.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors 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 yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is 49.76%.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the firm’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 sale, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.