Jacobi Capital Management LLC Boosts Stake in U.S. Bancorp $USB

Jacobi Capital Management LLC grew its stake in U.S. Bancorp (NYSE:USB) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,355 shares of the financial services provider’s stock after purchasing an additional 360 shares during the quarter. Jacobi Capital Management LLC’s holdings in U.S. Bancorp were worth $944,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. grew its position in shares of U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after purchasing an additional 78,146 shares during the period. Crestwood Advisors Group LLC grew its position in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the period. Ally Financial Inc. grew its position in shares of U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank grew its position in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Finally, Jump Financial LLC grew its position in shares of U.S. Bancorp by 1,952.5% in the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $49.13 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $76.46 billion, a PE ratio of 11.75, a PEG ratio of 1.55 and a beta of 1.05. The firm’s 50-day moving average price is $46.85 and its 200 day moving average price is $44.01. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced 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. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.85%.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. The Goldman Sachs Group lifted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Truist Financial boosted their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Finally, Citigroup boosted their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $52.55.

Insiders Place Their Bets

In other U.S. Bancorp 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 value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp 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.