Meritage Portfolio Management Invests $4.66 Million in U.S. Bancorp $USB

Meritage Portfolio Management purchased a new position in U.S. Bancorp (NYSE:USBFree Report) in the second quarter, HoldingsChannel reports. The fund purchased 102,950 shares of the financial services provider’s stock, valued at approximately $4,658,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 1.7% in the first 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 increased its stake in shares of U.S. Bancorp by 2.2% in the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after buying an additional 422,050 shares during the last quarter. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 3.6% in the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock worth $628,614,000 after buying an additional 513,875 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of U.S. Bancorp by 0.8% in 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 worth $535,312,000 after buying an additional 104,185 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after buying an additional 1,045,509 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial boosted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, September 17th. Citigroup boosted their target price 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. UBS Group boosted their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Morgan Stanley set a $56.00 target price on shares of U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday, September 29th. One 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 stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.11.

Check Out Our Latest Stock Report on USB

U.S. Bancorp Stock Down 3.8%

U.S. Bancorp stock opened at $45.29 on Friday. The company has a 50-day simple moving average of $47.76 and a 200-day simple moving average of $44.69. The firm has a market capitalization of $70.48 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.42 and a beta of 1.06. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USBGet 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. The business had revenue of $7.06 billion during 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%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. 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%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s payout ratio is currently 49.76%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

(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.

See Also

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USBFree Report).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.