U.S. Bancorp $USB Shares Acquired by Cascade Investment Advisors Inc.

by · The Cerbat Gem

Cascade Investment Advisors Inc. grew its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 68,100 shares of the financial services provider’s stock after acquiring an additional 700 shares during the quarter. U.S. Bancorp comprises 2.0% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Cascade Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $3,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in U.S. Bancorp in the first quarter valued at approximately $26,000. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $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 valued at $29,000 after buying 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 valued at $30,000. Finally, Cornerstone Planning Group LLC grew 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 valued at $31,000 after buying an additional 420 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 3.8%

U.S. Bancorp stock opened at $45.29 on Monday. The stock has a 50 day moving average of $47.76 and a two-hundred day moving average of $44.70. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock has a market capitalization of $70.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.33 and a beta of 1.06. 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 – Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS 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 in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on USB. Citigroup upped their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. UBS Group raised their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Truist Financial lifted their price target 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, Oppenheimer decreased 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. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.11.

Read Our Latest Report on U.S. Bancorp

About U.S. Bancorp

(Free Report)

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.

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