Belpointe Asset Management LLC Grows Position in U.S. Bancorp $USB

Belpointe Asset Management LLC increased its position in U.S. Bancorp (NYSE:USB) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,221 shares of the financial services provider’s stock after purchasing an additional 759 shares during the quarter. Belpointe Asset Management LLC’s holdings in U.S. Bancorp were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Nuveen LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $138,183,000. Vanguard Group Inc. lifted its stake 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 valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. increased its position in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after buying an additional 1,493,318 shares in the last quarter. Goldman Sachs Group Inc. increased its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares in the last quarter. Finally, National Bank of Canada FI increased its position in U.S. Bancorp by 124.8% during the 1st quarter. National Bank of Canada FI now owns 1,802,961 shares of the financial services provider’s stock valued at $76,121,000 after buying an additional 1,001,097 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 3.8%

U.S. Bancorp stock opened at $45.29 on Friday. The firm has a market cap of $70.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.47 and a beta of 1.06. The stock has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $44.69. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. 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) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.07 billion. During the same quarter last year, the company earned $0.98 EPS. 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. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction 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 of the company’s stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the company an “equal weight” rating in a research report on Monday, September 29th. UBS Group raised their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial raised their price objective 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. Finally, Evercore ISI raised their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.11.

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.