ZWJ Investment Counsel Inc. Has $1.52 Million Stake in U.S. Bancorp (NYSE:USB)

ZWJ Investment Counsel Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,977 shares of the financial services provider’s stock after selling 1,614 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $1,519,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $777,524,000. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares in the last quarter. Marshall Wace LLP lifted its stake in U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $184,733,000. Finally, FMR LLC increased its position in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director directly owned 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of several research reports. Royal Bank Of Canada cut their price target on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Barclays dropped their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $60.00 target price for the company. Piper Sandler lowered their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Bank of America cut their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $50.89.

U.S. Bancorp Price Performance

USB stock opened at $47.47 on Thursday. The company’s 50-day moving average price is $43.39 and its two-hundred day moving average price is $44.45. The firm has a market cap of $73.96 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the firm posted $0.78 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%. U.S. Bancorp’s payout ratio is currently 49.50%.

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.