U.S. Bancorp (NYSE:USB) Shares Sold by Capital Square LLC

25 Nov 2024, 11:22 by Teresa Graham · The Cerbat Gem

Capital Square LLC decreased its position in U.S. Bancorp (NYSE:USB – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,104 shares of the financial services provider’s stock after selling 456 shares during the quarter. Capital Square LLC’s holdings in U.S. Bancorp were worth $782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Los Angeles Capital Management LLC increased its holdings in U.S. Bancorp by 723.7% in the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after buying an additional 2,821,642 shares during the last quarter. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares in the last quarter. National Bank of Canada FI increased its stake in U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Finally, Bridges Investment Management Inc. raised its stake in shares of U.S. Bancorp by 1,554.3% during the third quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after purchasing an additional 1,412,743 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.2 %

NYSE USB traded up $1.15 during trading hours on Monday, hitting $53.64. The company had a trading volume of 975,463 shares, compared to its average volume of 8,319,871. The firm’s 50 day moving average is $47.63 and its 200 day moving average is $44.06. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $53.71. The company has a market capitalization of $83.68 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 3.10 and a beta of 1.02.

U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.02.

Read Our Latest Analysis on U.S. Bancorp

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

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