Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in U.S. Bancorp (NYSE:USB)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of U.S. Bancorp (NYSE:USB) by 7.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 607,352 shares of the financial services provider’s stock after selling 47,020 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in U.S. Bancorp were worth $29,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC boosted its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Amundi boosted its holdings in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after purchasing an additional 1,341,407 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.8 %

USB opened at $41.60 on Wednesday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $47.29 and a 200 day moving average price of $47.89. The company has a market cap of $64.81 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company earned $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.81%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Wall Street Analyst Weigh In

Several research firms have commented on USB. Truist Financial began coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Barclays upped their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.