Sippican Capital Advisors Buys New Holdings in U.S. Bancorp (NYSE:USB)

31 Oct 2024, 16:30 by Danessa Lincoln · The Markets Daily

Sippican Capital Advisors bought a new stake in shares of U.S. Bancorp (NYSE:USB – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,857 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. McAdam LLC raised its stake in U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares during the period. Valmark Advisers Inc. grew its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares in the last quarter. Naples Global Advisors LLC grew its holdings in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares in the last quarter. Finally, Kavar Capital Partners Group LLC grew its holdings in U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Up 0.0 %

Shares of USB traded up $0.01 during trading hours on Thursday, hitting $48.69. The company had a trading volume of 222,839 shares, compared to its average volume of 8,303,257. The company has a market capitalization of $75.98 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a one year low of $30.88 and a one year high of $50.47. The company’s fifty day moving average price is $46.10 and its two-hundred day moving average price is $42.97.

U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company posted $1.05 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.11%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. DA Davidson raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup lifted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Oppenheimer lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $50.87.

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U.S. Bancorp Company Profile

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