Eliot Finkel Investment Counsel LLC Sells 2,530 Shares of U.S. Bancorp $USB

Eliot Finkel Investment Counsel LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 106,582 shares of the financial services provider’s stock after selling 2,530 shares during the quarter. U.S. Bancorp comprises approximately 3.1% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 14th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in U.S. Bancorp were worth $4,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 buying an additional 2,393,383 shares in the last quarter. Amundi increased its position in U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after buying an additional 422,050 shares in the last quarter. Davis Selected Advisers increased its position in U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock valued at $628,614,000 after buying an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in U.S. Bancorp by 0.8% during the 1st 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 purchasing an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 worth $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $48.00 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock’s 50 day moving average price is $47.61 and its 200-day moving average price is $44.57. The company has a market capitalization of $74.69 billion, a PE ratio of 11.48, a PEG ratio of 1.50 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB) last announced its 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. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current 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 paid a $0.52 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

Analysts Set New Price Targets

USB has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday. Citigroup boosted their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Saturday, September 27th. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the stock an “equal weight” rating in a report on Monday, September 29th. Finally, DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.26.

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.