U.S. Bancorp $USB Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 22,364 shares of the financial services provider’s stock after selling 915 shares during the quarter. Chemung Canal Trust Co.’s holdings in U.S. Bancorp were worth $1,012,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. 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 acquiring an additional 2,393,383 shares during the period. American Century Companies Inc. raised its holdings in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after purchasing an additional 1,493,318 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in U.S. Bancorp by 10.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after purchasing an additional 1,045,509 shares during the period. Finally, National Bank of Canada FI boosted its holdings in U.S. Bancorp by 124.8% in the first 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 purchasing an additional 1,001,097 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. Oppenheimer decreased their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Morgan Stanley set a $56.00 price target on U.S. Bancorp and gave the company an “equal weight” rating in a report on Monday, September 29th. Evercore ISI raised their price objective 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. 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. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $53.26.

U.S. Bancorp Stock Up 0.2%

USB stock opened at $48.00 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 has a 50-day simple moving average of $47.61 and a 200-day simple moving average of $44.57. The stock has a market capitalization of $74.69 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.50 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the business earned $0.98 EPS. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were 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 directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by 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.