Johnson Financial Group Inc. Lowers Position in U.S. Bancorp $USB

Johnson Financial Group Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,728 shares of the financial services provider’s stock after selling 2,361 shares during the quarter. Johnson Financial Group Inc.’s holdings in U.S. Bancorp were worth $3,235,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of USB. Brighton Jones LLC boosted its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of U.S. Bancorp by 15.0% in the first quarter. Mackenzie Financial Corp now owns 215,487 shares of the financial services provider’s stock worth $9,098,000 after buying an additional 28,094 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of U.S. Bancorp by 11.2% in the first quarter. Meeder Advisory Services Inc. now owns 35,991 shares of the financial services provider’s stock worth $1,520,000 after buying an additional 3,619 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in U.S. Bancorp by 118.4% during the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after buying an additional 535 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in U.S. Bancorp during the 1st quarter valued at approximately $207,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $49.00 on Thursday. The company has a market capitalization of $76.17 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm’s 50-day moving average is $47.53 and its 200 day moving average is $46.44. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The business 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%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.2%. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on USB. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Truist Financial upped their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.45.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.