Lecap Asset Management Ltd. Sells 10,154 Shares of U.S. Bancorp $USB

Lecap Asset Management Ltd. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 49.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,286 shares of the financial services provider’s stock after selling 10,154 shares during the quarter. Lecap Asset Management Ltd.’s holdings in U.S. Bancorp were worth $465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Saudi Central Bank bought a new position in U.S. Bancorp during the first quarter worth about $26,000. Westend Capital Management LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $27,000. YANKCOM Partnership lifted its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on USB shares. DA Davidson lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted 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 U.S. Bancorp and gave the company an “equal weight” rating in a report on Monday. The Goldman Sachs Group lifted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Finally, Oppenheimer cut their target price on 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.26.

U.S. Bancorp Trading Up 0.2%

NYSE USB opened at $48.00 on Friday. The stock has a market capitalization of $74.69 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.50 and a beta of 1.06. The stock’s 50 day moving average price is $47.61 and its two-hundred day moving average price is $44.55. 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 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (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 company had revenue of $7.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

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.