U.S. Bancorp $USB Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 23.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,350 shares of the financial services provider’s stock after selling 8,868 shares during the period. Cullinan Associates Inc.’s holdings in U.S. Bancorp were worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. Amundi increased its stake in U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. Davis Selected Advisers increased its stake in U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock valued at $628,614,000 after purchasing an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock valued at $535,312,000 after purchasing an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.2%

NYSE:USB opened at $48.00 on Monday. The business’s 50-day moving average is $47.61 and its two-hundred day moving average is $44.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $74.69 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating 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 analyst estimates of $7.07 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.3%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is 49.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on USB shares. Morgan Stanley set a $56.00 target price on U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday, September 29th. Oppenheimer reduced their target price on 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. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial increased their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, September 17th. Finally, Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.26.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.