Johnson Investment Counsel Inc. Sells 72,885 Shares of U.S. Bancorp $USB

Johnson Investment Counsel Inc. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 571,365 shares of the financial services provider’s stock after selling 72,885 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $27,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Chemung Canal Trust Co. raised its holdings in shares of U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares during the last quarter. Synergy Asset Management LLC increased its position in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the period. Jones Financial Companies Lllp increased its position in U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after acquiring an additional 47,537 shares during the period. Andra AP fonden raised its stake in U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in U.S. Bancorp by 757.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock worth $8,622,000 after acquiring an additional 155,925 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. Bank of America lifted their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. UBS Group restated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Evercore boosted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp Stock Down 0.4%

Shares of USB opened at $60.42 on Tuesday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $60.91. The business’s fifty day moving average price is $54.79 and its two-hundred day moving average price is $50.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $93.92 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.09 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.4%. U.S. Bancorp’s payout ratio is 45.02%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.