Birch Hill Investment Advisors LLC Decreases Stock Position in US Bancorp (NYSE:USB)

VaselineSeptember 1, 2024

0 4 minutes read

US Bancorp logo Birch Hill Investment Advisors LLC lessened its stake in US Bancorp (NYSE:USB – Free Report) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission ( SEC). The firm owned 59,065 shares of the financial services provider’s stock after selling 3,900 shares during the period. Birch Hill Investment Advisors LLC’s holdings in US Bancorp were worth $2,345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Naples Global Advisors LLC boosted its stake in US Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the period. Kavar Capital Partners Group LLC grew its position in shares of US Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 250 shares during the period. Motley Fool Wealth Management LLC boosted its position in US Bancorp by 0.7% in the first quarter. Motley Fool Wealth Management LLC now owns 38,362 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 251 shares in the last quarter. Vestor Capital LLC raised its position in shares of US Bancorp by 1.5% in the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 253 shares in the the last quarter. Finally, Atlas Brown Inc. boosted its position in shares of US Bancorp by 2.1% during the second quarter. Atlas Brown Inc. now owns 12,697 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s shares.

Insider buying and selling at US Bancorp

In other US Bancorp news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. 0.23% of shares are owned by corporate insiders.

US Bancorp Stock Performance

Want more great investment ideas?

USB stock opened at $47.23 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81, and a quick ratio of 0.80. US Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The company has a market cap of $73.70 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. The stock’s fifty day moving average price is $42.81 and its 200 day moving average price is $41.90.

US Bancorp (NYSE:USB – Get Free Report ) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. US Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the company posted earnings of $1.12 per share. The company’s revenue for the quarter was down 4.3% year over year. On average, equities analysts anticipate that US Bancorp will post 3.89 earnings per share for the current year.

US Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents an annualized dividend of $1.96 and a yield of 4.15%. US Bancorp’s dividend payout ratio (DPR) is 64.90%.

The Wall Street analyst weighs in

A number of research firms recently weighed in on USB. Royal Bank of Canada upped their target price on shares of US Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Citigroup upped their price target on US Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI upped their target price on US Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. DA Davidson upped their target price on US Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Morgan Stanley upped their target price on shares of US Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th . Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. US Bancorp has a consensus rating of “Hold” and an average price target of $48.23, according to MarketBeat.com.

Check out our latest report on USB

About US Bancorp

(Free report)

US Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, government entities and other financial institutions in the United States. It works through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; payment services; and the Treasury and Corporate Support segments.