NorthRock Partners LLC Acquires 469 Shares of U.S. Bancorp $USB

NorthRock Partners LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 1.1% during the second quarter, Holdings Channel.com reports. The fund owned 42,657 shares of the financial services provider’s stock after buying an additional 469 shares during the quarter. NorthRock Partners LLC’s holdings in U.S. Bancorp were worth $1,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in USB. Saudi Central Bank bought a new position in U.S. Bancorp in the 1st quarter worth about $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $27,000. YANKCOM Partnership boosted its holdings 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 purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $30,000. Finally, Cornerstone Planning Group LLC boosted its holdings 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 purchasing an additional 420 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the 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 completion of the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on USB shares. Oppenheimer cut their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. DA Davidson upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Truist Financial upped their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. Finally, Citigroup increased their target price on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $53.11.

U.S. Bancorp Trading Down 3.8%

Shares of USB stock opened at $45.29 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 current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $47.76 and a 200 day moving average of $44.70. The stock has a market capitalization of $70.48 billion, a PE ratio of 10.83, a P/E/G ratio of 1.33 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 earnings per share for the quarter, topping 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 business had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the business posted $0.98 EPS. The business’s revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

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.