DMC Group LLC Trims Holdings in U.S. Bancorp $USB

DMC Group LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 67.7% during the second quarter, HoldingsChannel reports. The fund owned 6,960 shares of the financial services provider’s stock after selling 14,581 shares during the quarter. DMC Group LLC’s holdings in U.S. Bancorp were worth $315,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Shell Asset Management Co. lifted its position in shares of U.S. Bancorp by 61.2% during the second quarter. Shell Asset Management Co. now owns 41,873 shares of the financial services provider’s stock worth $1,895,000 after purchasing an additional 15,893 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in U.S. Bancorp by 17.3% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 12,306 shares of the financial services provider’s stock worth $557,000 after buying an additional 1,811 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 558,096 shares of the financial services provider’s stock worth $25,491,000 after buying an additional 15,500 shares during the last quarter. RMG Wealth Management LLC bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $286,000. Finally, Trueblood Wealth Management LLC bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $203,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Saturday, September 27th. Truist Financial raised their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, September 17th. Citigroup raised their target price on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, DA Davidson raised their target price on shares of 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, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $53.11.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the 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 transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.52 on Wednesday. The company’s fifty day moving average is $47.67 and its 200-day moving average is $44.64. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market cap of $73.94 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.49 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 posted its 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 firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. Equities analysts expect that U.S. Bancorp will post 4.38 EPS 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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio 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.