Armstrong Fleming & Moore Inc Takes Position in U.S. Bancorp $USB

Armstrong Fleming & Moore Inc bought a new stake in U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,812 shares of the financial services provider’s stock, valued at approximately $218,000.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in U.S. Bancorp by 1.7% during 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 purchasing an additional 2,393,383 shares in the last quarter. Amundi grew its stake in U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. Davis Selected Advisers grew its stake in U.S. Bancorp by 3.6% during 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 purchasing an additional 513,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 valued at $535,312,000 after purchasing an additional 104,185 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 valued at $464,953,000 after purchasing an additional 1,045,509 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.1%

Shares of U.S. Bancorp stock opened at $47.00 on Thursday. The business’s fifty day moving average price is $47.69 and its two-hundred day moving average price is $44.65. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $73.14 billion, a P/E ratio of 11.24, a PEG ratio of 1.49 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

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, beating 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 return on equity of 13.08% and a net margin of 16.30%.The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS 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 a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s payout ratio is 49.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on USB shares. Citigroup raised their price objective on U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Truist Financial increased their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $51.00 to $57.00 in a report on Monday, July 7th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.11.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction 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 directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

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.