BNP PARIBAS ASSET MANAGEMENT Holding SA increases its position in US Bancorp (NYSE:USB)

VaselineAugust 31, 2024

0 4 minutes read

US Bancorp logo BNP PARIBAS ASSET MANAGEMENT Holding SA boosted its stake in US Bancorp (NYSE:USB – Free Report) by 17.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,183 shares of the financial services provider’s stock after purchasing an additional 40,364 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding SA’s holdings in US Bancorp were worth $10,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. raised its stake in US Bancorp by 21.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 127,904 shares of the financial services provider’s stock valued at $5,078,000 after acquiring an additional 22,367 shares during the period. HighMark Wealth Management LLC raised its stake in US Bancorp by 1.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 28,270 shares of the financial services provider’s stock valued at $1,122,000 after purchasing another 371 shares during the period. Smith Salley Wealth Management grew its stake in US Bancorp by 1.3% during the 2nd quarter. Smith Salley Wealth Management now owns 42,657 shares of the financial services provider’s stock, valued at $1,693,000 after acquired another 537 shares during the period. American Capital Advisory LLC boosted its stake in US Bancorp by 15.6% in the 2nd quarter. American Capital Advisory LLC now owns 4,811 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 650 shares during that period. Finally, Coerente Capital Management raised its stake in US Bancorp by 0.8% in the 2nd quarter. Coerente Capital Management now owns 404,811 shares of the financial services provider’s stock worth $16,071,000 after which acquired an additional 3,171 shares during the period. 77.60% of the shares are currently owned by institutional investors and hedge funds.

US Bancorp trading up 1.5%

Shares of USB stock opened at $47.23 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80, and a debt-to-equity ratio of 1.05. US Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The firm has a 50-day moving average price of $42.66 and a 200-day moving average price of $41.85. The firm has a market cap of $73.70 billion, a P/E ratio of 15.64, a P/E/G ratio of 4.20 and a beta of 1.04.

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US Bancorp (NYSE:USB – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. US Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. In the same quarter last year, the company posted earnings of $1.12 per share. US Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. sell-side analysts forecast that US Bancorp will post 3.9 EPS for the current year.

US Bancorp Dividend Announcement

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

Analysts on Wall Street are forecasting an increase

Several equities analysts recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of US Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of US Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Goldman Sachs Group upped their price target on shares of US Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut shares of US Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. Finally, DA Davidson upped their target price on shares of US Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.23.

View the latest stock analysis on USB

Insiders place their bets

In related news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. 0.23% of shares are currently owned by insiders.

US Bancorp Profile

(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.