Louisiana State Employees Retirement System Sells 1,700 Shares of U.S. Bancorp $USB

Louisiana State Employees Retirement System lessened its position in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 82,200 shares of the financial services provider’s stock after selling 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in U.S. Bancorp were worth $3,720,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Saudi Central Bank bought a new position in U.S. Bancorp during the first quarter worth $26,000. Westend Capital Management LLC bought a new position in U.S. Bancorp during the first quarter worth $27,000. YANKCOM Partnership raised its stake in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the first quarter worth $30,000. Finally, Cornerstone Planning Group LLC raised its stake in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were 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. The trade was a 25.22% decrease in their ownership of the stock. The transaction 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on USB shares. Citigroup lifted their price target on shares of U.S. Bancorp from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Raymond James Financial raised shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Oppenheimer decreased their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Finally, Truist Financial lifted their price target 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. One investment 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.11.

U.S. Bancorp Stock Down 1.1%

Shares of NYSE USB opened at $47.00 on Thursday. The stock has a market capitalization of $73.14 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.49 and a beta of 1.06. The company has a 50-day moving average price of $47.69 and a 200-day moving average price of $44.65. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analysts’ expectations 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 revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

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.