Shares of US Bancorp (NYSE:USB) bought by Bridges Investment Management Inc.

VaselineSeptember 20, 2024

0 4 minutes read

US Bancorp logo Bridges Investment Management Inc. boosted its stake in US Bancorp (NYSE:USB – Free Report) by 25.7% during the second quarter, HoldingsChannel.com reports. The fund owned 90,895 shares of the financial services provider’s stock after purchasing an additional 18,591 shares during the quarter. Holdings of Bridges Investment Management Inc. in US Bancorp were worth $3,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in USB. Canada Pension Plan Investment Board boosted its position in US Bancorp by 22.0% in the second quarter. Canada Pension Plan Investment Board now owns 329,245 shares of the financial services provider’s stock valued at $13,071,000 after buying an additional 59,284 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of US Bancorp by 2.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 122,232 shares of the financial services provider’s stock valued at $4,852,000 after acquiring an additional 2,973 shares during the period. Ieq Capital LLC boosted its holdings in shares of US Bancorp by 17.7% in the second quarter. Ieq Capital LLC now owns 64,479 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 9,704 shares during the period. Brighton Jones LLC increased its position in shares of US Bancorp by 55.8% in the second quarter. Brighton Jones LLC now owns 43,343 shares of the financial services provider’s stock worth $1,721,000 after acquiring an additional 15,531 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of US Bancorp by 113.6% in the second quarter. XTX Topco Ltd now owns 57,968 shares of the financial services provider’s stock worth $2,301,000 after acquiring an additional 30,824 shares during the period. 77.60% of shares are owned by institutional investors.

Changes in Analyst Ratings

Several research firms have commented on USB. StockNews.com upgraded shares of US Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Goldman Sachs Group decreased their price objective on US Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. downgraded US Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Citigroup boosted their target price on US Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI raised their price objective on shares of US Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, the 25th June. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $48.18, according to MarketBeat.com.

Want more great investment ideas?

Read our latest report on US Bancorp

Insiders place their bets

In other news, Director Aleem Gillani bought 10,000 shares of US Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s shares.

US Bancorp shares rose 2.8%

USB stock opened at $46.46 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. The firm has a market cap of $72.50 billion, a PE ratio of 15.38, a P/E/G ratio of 4.36 and a beta of 1.04. US Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The firm has a 50-day simple moving average of $44.31 and a 200-day simple moving average of $42.30.

US Bancorp (NYSE:USB – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. US Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. In the same quarter last year, the firm earned $1.12 EPS. equities research analysts forecast that US Bancorp will post 3.87 earnings per share for the current fiscal year.

US Bancorp raises dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30. This represents a dividend of $2.00 on an annualized basis and a yield of 4.30%. This is a boost from US Bancorp’s previous quarterly dividend of $0.49. US Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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.