Conning Inc. Trims Stock Position in U.S. Bancorp $USB

Conning Inc. trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,468 shares of the financial services provider’s stock after selling 226 shares during the period. Conning Inc.’s holdings in U.S. Bancorp were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Saudi Central Bank acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $26,000. Westend Capital Management LLC acquired a new stake in U.S. Bancorp during the first quarter valued at $27,000. YANKCOM Partnership grew its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the first quarter valued at $30,000. Finally, Cornerstone Planning Group LLC grew its position in U.S. Bancorp by 118.0% during the first 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 period. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on USB shares. UBS Group raised their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Citigroup raised their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a report on Friday, September 19th. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $51.00 to $57.00 in a report on Monday, July 7th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, 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 opened at $45.29 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average is $47.76 and its two-hundred day moving average is $44.69. The stock has a market cap of $70.48 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. 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%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company 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.