Sound Income Strategies LLC Increases Stake in U.S. Bancorp $USB

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Sound Income Strategies LLC increased its position in shares of U.S. Bancorp (NYSE:USBFree Report) by 78.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,218 shares of the financial services provider’s stock after purchasing an additional 535 shares during the period. Sound Income Strategies LLC’s holdings in U.S. Bancorp were worth $55,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Fiduciary Alliance LLC grew its stake in U.S. Bancorp by 15.5% in the first quarter. Fiduciary Alliance LLC now owns 7,142 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 956 shares during the last quarter. NBC Securities Inc. grew its stake in U.S. Bancorp by 101,850.0% in the first quarter. NBC Securities Inc. now owns 14,273 shares of the financial services provider’s stock valued at $602,000 after purchasing an additional 14,259 shares during the last quarter. Gradient Investments LLC grew its stake in U.S. Bancorp by 48.3% in the first quarter. Gradient Investments LLC now owns 7,049 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 2,296 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in U.S. Bancorp by 9.3% in the first quarter. ST Germain D J Co. Inc. now owns 5,657 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

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Several research firms have issued reports on USB. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. DA Davidson raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial raised their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. Finally, Evercore ISI raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.26.

View Our Latest Report on USB

U.S. Bancorp Trading Down 0.9%

U.S. Bancorp stock opened at $47.87 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a market capitalization of $74.50 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. The stock has a 50-day moving average price of $47.54 and a 200 day moving average price of $44.48.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio is presently 49.76%.

U.S. Bancorp Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USBFree Report).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)



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