Johnson Financial Group Inc. Decreases Stake in U.S. Bancorp $USB

Johnson Financial Group Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,728 shares of the financial services provider’s stock after selling 2,361 shares during the period. Johnson Financial Group Inc.’s holdings in U.S. Bancorp were worth $3,235,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Korea Investment CORP raised its position in U.S. Bancorp by 16.6% in the 2nd quarter. Korea Investment CORP now owns 1,411,243 shares of the financial services provider’s stock worth $63,859,000 after buying an additional 200,492 shares during the last quarter. Elevation Point Wealth Partners LLC raised its holdings in shares of U.S. Bancorp by 4.6% during the second quarter. Elevation Point Wealth Partners LLC now owns 11,002 shares of the financial services provider’s stock valued at $498,000 after purchasing an additional 483 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of U.S. Bancorp by 82.5% during the second quarter. Quadrant Capital Group LLC now owns 65,787 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 29,740 shares during the last quarter. Vinva Investment Management Ltd lifted its position in U.S. Bancorp by 120.2% during the second quarter. Vinva Investment Management Ltd now owns 113,480 shares of the financial services provider’s stock valued at $5,193,000 after purchasing an additional 61,955 shares during the period. Finally, Employees Retirement System of Texas purchased a new stake in U.S. Bancorp in the second quarter worth approximately $791,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on USB. Truist Financial lifted their target price on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. TD Cowen upped their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

U.S. Bancorp Stock Performance

NYSE:USB opened at $49.00 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50-day simple moving average of $47.53 and a two-hundred day simple moving average of $46.44. The firm has a market capitalization of $76.17 billion, a PE ratio of 11.21, a P/E/G ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

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.