Mechanics Financial Corp Raises Stake in U.S. Bancorp $USB

Mechanics Financial Corp increased its stake in U.S. Bancorp (NYSE:USB) by 5.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,806 shares of the financial services provider’s stock after buying an additional 240 shares during the quarter. Mechanics Financial Corp’s holdings in U.S. Bancorp were worth $217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 1.7% in 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 buying an additional 2,393,383 shares during the last quarter. Amundi lifted its holdings in U.S. Bancorp by 2.2% during the first 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 during the last quarter. Davis Selected Advisers lifted its holdings in U.S. Bancorp by 3.6% during the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in U.S. Bancorp by 0.8% during the first 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 during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in U.S. Bancorp by 10.5% during the first 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 during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on USB. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $51.00 to $57.00 in a report on Monday, July 7th. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Truist Financial upped their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

U.S. Bancorp Stock Up 0.1%

USB stock opened at $47.91 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. The company’s 50 day moving average is $47.57 and its 200 day moving average is $44.51. The stock has a market cap of $74.56 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted 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. The company had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS 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. Investors of record on Tuesday, September 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Profile

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.