ZWJ Investment Counsel Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,885 shares of the financial services provider’s stock after selling 1,925 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $14,980,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of U.S. Bancorp by 0.9% in the first quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock valued at $979,228,000 after purchasing an additional 190,324 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after purchasing an additional 1,285,265 shares in the last quarter. Daily Journal Corp lifted its holdings in shares of U.S. Bancorp by 9,900.0% in the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of U.S. Bancorp by 3.7% in the first quarter. Janus Henderson Group PLC now owns 13,071,712 shares of the financial services provider’s stock valued at $629,921,000 after purchasing an additional 470,496 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of U.S. Bancorp by 1.8% in the first quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock valued at $540,070,000 after purchasing an additional 195,579 shares in the last quarter. Institutional investors own 74.64% of the company’s stock.
Shares of USB traded down $0.26 on Friday, reaching $55.43. 7,249,435 shares of the company’s stock traded hands, compared to its average volume of 5,862,572. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $88.66 billion, a PE ratio of 13.20, a PEG ratio of 1.85 and a beta of 1.06. The business has a 50 day moving average price of $53.92. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81.
U.S. Bancorp announced that its board has initiated a share buyback program on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s payout ratio is 36.10%.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $55.25, for a total value of $520,897.00. Following the completion of the sale, the insider now directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The disclosure for this sale can be found here. Insiders have sold 40,414 shares of company stock valued at $2,297,215 over the last ninety days. 0.24% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Thursday. Wedbush raised their target price on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $49.00 to $55.00 in a report on Thursday, July 18th. Finally, Morgan Stanley raised their target price on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.92.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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