Concurrent Investment Advisors LLC Grows Stock Holdings in U.S. Bancorp $USB

Concurrent Investment Advisors LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,934 shares of the financial services provider’s stock after buying an additional 1,001 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,848,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Saudi Central Bank acquired a new position in U.S. Bancorp in the 1st quarter worth $26,000. Westend Capital Management LLC acquired a new position in U.S. Bancorp in the 1st quarter worth $27,000. YANKCOM Partnership lifted its holdings in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp in the 1st quarter worth $30,000. Finally, Cornerstone Planning Group LLC lifted its holdings in U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup boosted their price objective on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the company an “equal weight” rating in a report on Monday, September 29th. UBS Group upped their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Oppenheimer cut their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.11.

U.S. Bancorp Stock Up 1.9%

Shares of NYSE:USB opened at $46.16 on Tuesday. The stock has a market capitalization of $71.83 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company’s fifty day moving average is $47.79 and its two-hundred day moving average is $44.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

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

U.S. Bancorp Increases Dividend

The firm 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 49.76%.

About U.S. Bancorp

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.