Johnson Financial Group Inc. Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Johnson Financial Group Inc. lowered its stake in U.S. Bancorp (NYSE:USB) by 49.0% during the 4th quarter, Holdings Channel reports. The firm owned 28,372 shares of the financial services provider’s stock after selling 27,241 shares during the quarter. Johnson Financial Group Inc.’s holdings in U.S. Bancorp were worth $1,242,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Founders Financial Alliance LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $182,000. Nomura Asset Management Co. Ltd. raised its stake in U.S. Bancorp by 13.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,397,859 shares of the financial services provider’s stock valued at $60,499,000 after purchasing an additional 164,963 shares in the last quarter. Congress Wealth Management LLC DE bought a new position in U.S. Bancorp during the fourth quarter valued at $491,000. HCR Wealth Advisors grew its stake in shares of U.S. Bancorp by 30.8% in the 4th quarter. HCR Wealth Advisors now owns 22,108 shares of the financial services provider’s stock worth $957,000 after buying an additional 5,212 shares in the last quarter. Finally, Team Hewins LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USB. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Evercore ISI lifted their target price on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Finally, Morgan Stanley increased their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Up 1.3 %

Shares of USB stock traded up $0.51 during mid-day trading on Friday, hitting $40.53. The stock had a trading volume of 6,156,240 shares, compared to its average volume of 7,008,351. The firm has a market capitalization of $63.25 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 3.86 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 12-month low of $29.33 and a 12-month high of $45.85. The firm’s 50-day moving average is $41.99 and its two-hundred day moving average is $41.37.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.84%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

U.S. Bancorp Company 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.