Conning Inc. Sells 226 Shares of U.S. Bancorp $USB

Conning Inc. cut its holdings in U.S. Bancorp (NYSE:USB) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,468 shares of the financial services provider’s stock after selling 226 shares during the quarter. Conning Inc.’s holdings in U.S. Bancorp were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in USB. Saudi Central Bank bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the first quarter worth approximately $27,000. YANKCOM Partnership raised its position in shares of U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp in the 1st quarter worth $30,000. Finally, Cornerstone Planning Group LLC raised its position in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 420 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 3.8%

Shares of U.S. Bancorp stock opened at $45.29 on Friday. 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 has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.42 and a beta of 1.06. The firm’s 50 day simple moving average is $47.76 and its two-hundred day simple moving average is $44.69.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (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 firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. 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 year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

A number of brokerages have commented on USB. Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a report on Monday, September 29th. Citigroup boosted their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.11.

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.