Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in U.S. Bancorp (NYSE:USB)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 607,352 shares of the financial services provider's stock after selling 47,020 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in U.S. Bancorp were worth $29,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC grew its position in U.S. Bancorp by 203,842.9% in the fourth quarter. AlphaQuest LLC now owns 14,276 shares of the financial services provider's stock worth $683,000 after acquiring an additional 14,269 shares in the last quarter. Miramar Capital LLC purchased a new position in U.S. Bancorp in the fourth quarter worth about $206,000. OFI Invest Asset Management purchased a new position in U.S. Bancorp in the fourth quarter worth about $43,000. United Community Bank grew its position in U.S. Bancorp by 4.0% in the fourth quarter. United Community Bank now owns 40,270 shares of the financial services provider's stock worth $1,926,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Amundi grew its position in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after acquiring an additional 1,341,407 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $41.60 on Wednesday. The company has a market capitalization of $64.81 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $47.29 and a 200 day moving average of $47.89.

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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 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 the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.81%. U.S. Bancorp's dividend payout ratio (DPR) is 52.77%.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value 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. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction 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 completion of 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 sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price target for the company. Citigroup upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $54.21.

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.

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