ZWJ Investment Counsel Inc. Trims Stake in U.S. Bancorp (NYSE:USB)

ZWJ Investment Counsel Inc. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 20.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 60,237 shares of the financial services provider’s stock after selling 15,255 shares during the period. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $2,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in USB. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $27,000. Naples Money Management LLC purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $30,000. Finally, Legacy Financial Group LLC purchased a new stake in U.S. Bancorp during the 3rd quarter valued at about $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 2.6 %

Shares of NYSE:USB traded up $1.01 during trading on Friday, hitting $40.45. The stock had a trading volume of 12,037,614 shares, compared to its average volume of 8,840,654. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The company has a market capitalization of $63.03 billion, a PE ratio of 13.39, a PEG ratio of 2.04 and a beta of 1.05. The firm’s fifty day moving average is $42.32 and its 200 day moving average is $39.78. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Oppenheimer dropped their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Barclays dropped their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, Royal Bank of Canada increased their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.68.

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.