Zions Bancorporation N.A. Boosts Holdings in U.S. Bancorp (NYSE:USB)

Zions Bancorporation N.A. raised its stake in U.S. Bancorp (NYSE:USB - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,071 shares of the financial services provider's stock after purchasing an additional 15,281 shares during the period. U.S. Bancorp accounts for 0.6% of Zions Bancorporation N.A.'s holdings, making the stock its 24th biggest holding. Zions Bancorporation N.A.'s holdings in U.S. Bancorp were worth $7,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp during the second quarter worth about $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the first quarter worth about $31,000. Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the second quarter worth about $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp during the first quarter worth about $39,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 1.7 %

NYSE USB traded down $0.86 during trading hours on Thursday, reaching $50.31. 9,435,457 shares of the company's stock traded hands, compared to its average volume of 8,330,827. The firm has a market cap of $78.49 billion, a PE ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 52-week low of $36.21 and a 52-week high of $51.76. The firm has a 50-day simple moving average of $46.79 and a 200 day simple moving average of $43.58.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Monday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp declared that its board has initiated a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. UBS Group boosted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. Oppenheimer upped their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.12.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.