U.S. Bancorp $USB Shares Bought by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT grew its position in U.S. Bancorp (NYSE:USB) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,811 shares of the financial services provider’s stock after acquiring an additional 2,095 shares during the period. Zions Bancorporation National Association UT’s holdings in U.S. Bancorp were worth $8,996,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in U.S. Bancorp during the first quarter worth approximately $138,183,000. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after buying an additional 2,393,383 shares during the period. American Century Companies Inc. raised its stake in shares of U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after buying an additional 1,493,318 shares during the period. Nordea Investment Management AB lifted its position in shares of U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after buying an additional 1,311,746 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in U.S. Bancorp by 10.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after acquiring an additional 1,045,509 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Citigroup upped their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Oppenheimer cut their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Stock Performance

USB opened at $47.32 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market capitalization of $73.64 billion, a PE ratio of 10.83, a PEG ratio of 1.25 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm’s 50-day moving average price is $47.95 and its 200 day moving average price is $45.84.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change 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 4.4%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

U.S. Bancorp Company 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.