Johnson Investment Counsel Inc. Acquires 67,494 Shares of U.S. Bancorp (NYSE:USB)

Johnson Investment Counsel Inc. increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,401 shares of the financial services provider's stock after purchasing an additional 67,494 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in U.S. Bancorp were worth $33,644,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in USB. Brooklyn Investment Group lifted its holdings in U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider's stock valued at $219,000 after buying an additional 201 shares during the period. Capital Performance Advisors LLP boosted its holdings in U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock worth $392,000 after buying an additional 210 shares during the last quarter. HCR Wealth Advisors boosted its holdings in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock worth $962,000 after buying an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC increased its stake in shares of U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank raised its position in shares of U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock valued at $591,000 after acquiring an additional 216 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $0.45 during trading on Tuesday, hitting $41.92. 11,772,729 shares of the stock were exchanged, compared to its average volume of 9,502,213. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $65.32 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a fifty day moving average price of $47.42 and a 200-day moving average price of $47.91.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on USB. Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Truist Financial initiated coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a "hold" rating and a $54.00 price objective on the stock. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Morgan Stanley cut their price objective on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $54.21.

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.