12 Best Long-Term Dividend Stocks to Invest in Right Now

9. U.S. Bancorp (NYSE:USB)

Number of Hedge Fund Holders: 46

U.S. Bancorp (NYSE:USB) is an American bank holding company, based in Minnesota. The company offers a broad spectrum of financial solutions, including personal and commercial banking, wealth management, and payment services. Recently, it has prioritized regulatory compliance, maintaining sufficient capital reserves, and enhancing its digital platforms to boost customer satisfaction and streamline operations. Its performance hinges on effectively navigating a challenging regulatory landscape, sustaining robust capital levels, and adopting cutting-edge technology to stay competitive while safeguarding against cybersecurity risks. Since the start of 2024, the stock has surged by over 17.3%.

In the third quarter of 2024, U.S. Bancorp (NYSE:USB) reported net income of $1.7 billion, up from $1.5 billion in the same period last year. The company announced diluted earnings per share of $1.03 and a return on tangible common equity of 17.9%. Year-over-year expense reductions contributed to slight positive operating leverage, excluding net securities losses and notable items from the prior year. Management anticipates further improvement in operating leverage during the fourth quarter and extending into 2025.

U.S. Bancorp (NYSE:USB)’s credit quality results met expectations, and it continued to strengthen its capital position, closing the quarter with a CET1 capital ratio of 10.5%. On December 11, the company declared a quarterly dividend of $0.50 per share, which was in line with its previous dividend. Overall, it has raised its payouts for 14 years in a row. The stock supports a dividend yield of 3.88%, as of December 12.

The number of hedge funds tracked by Insider Monkey owning stakes in U.S. Bancorp (NYSE:USB) grew to 46 in Q3 2024, from 43 in the preceding quarter. These stakes have a collective value of more than $2.6 billion. With over 33.6 million shares, Viking Global was the company’s leading stakeholder in Q3.