Johnson Investment Counsel Inc. Sells 46,737 Shares of U.S. Bancorp $USB

Johnson Investment Counsel Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,250 shares of the financial services provider’s stock after selling 46,737 shares during the period. Johnson Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $29,152,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Saudi Central Bank bought a new stake in U.S. Bancorp in the 1st quarter valued at approximately $26,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at approximately $27,000. YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp in the 1st quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its stake in U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 703 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 3.8%

U.S. Bancorp stock opened at $45.29 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $70.48 billion, a P/E ratio of 10.83, a PEG ratio of 1.42 and a beta of 1.06. The stock has a 50-day simple moving average of $47.76 and a 200 day simple moving average of $44.69.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This is a boost 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 yield of 4.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group boosted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Truist Financial boosted their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, September 17th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Evercore ISI boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Finally, Oppenheimer dropped their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.11.

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.