Zacks Investment Management Trims Position in U.S. Bancorp (NYSE:USB)

Zacks Investment Management cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,862 shares of the financial services provider's stock after selling 149,665 shares during the quarter. Zacks Investment Management owned approximately 0.09% of U.S. Bancorp worth $68,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP lifted its holdings in shares of U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock valued at $392,000 after purchasing an additional 210 shares in the last quarter. HCR Wealth Advisors grew its holdings in U.S. Bancorp by 1.1% during the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock worth $962,000 after acquiring an additional 211 shares in the last quarter. Covestor Ltd lifted its position in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after buying an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC grew its position in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock worth $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank grew its position in 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 buying an additional 216 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Royal Bank of Canada lowered their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday. DA Davidson reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday. Raymond James reissued an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday. Morgan Stanley decreased their price objective on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Citigroup dropped their price objective on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.66.

U.S. Bancorp Price Performance

NYSE:USB traded down $0.67 during midday trading on Monday, hitting $37.53. 2,572,517 shares of the stock were exchanged, compared to its average volume of 8,996,215. 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 company has a market capitalization of $58.47 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The business has a 50-day moving average price of $42.55 and a two-hundred day moving average price of $46.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the prior year, the business earned $0.78 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.33%. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

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.