ZWJ Investment Counsel Inc. Sells 30,254 Shares of U.S. Bancorp $USB

ZWJ Investment Counsel Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 84.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,723 shares of the financial services provider’s stock after selling 30,254 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wesbanco Bank Inc. lifted its position in shares of U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after buying an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after buying an additional 649 shares in the last quarter. Ally Financial Inc. raised its holdings in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank raised its holdings in shares of U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after purchasing an additional 8,796 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after purchasing an additional 799,368 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Saturday, September 27th. Truist Financial lifted their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, September 17th. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. Citigroup lifted their price target on shares of U.S. Bancorp from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $53.26.

U.S. Bancorp Trading Up 0.2%

Shares of USB stock opened at $48.00 on Friday. The company’s fifty day simple moving average is $47.61 and its two-hundred day simple moving average is $44.57. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock has a market capitalization of $74.69 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.50 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.76%.

U.S. Bancorp 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.