Zions Bancorporation National Association UT Has $8.40 Million Stock Position in U.S. Bancorp $USB

Zions Bancorporation National Association UT lessened its stake in U.S. Bancorp (NYSE:USB) by 12.5% in the third quarter, Holdings Channel reports. The firm owned 173,877 shares of the financial services provider’s stock after selling 24,934 shares during the quarter. Zions Bancorporation National Association UT’s holdings in U.S. Bancorp were worth $8,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $971,285,000. Davis Selected Advisers lifted its stake in U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of U.S. Bancorp by 1,589.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of U.S. Bancorp by 354.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after buying an additional 2,038,996 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price target on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Down 0.3%

Shares of USB opened at $57.66 on Monday. The stock’s 50-day moving average price is $55.43 and its two-hundred day moving average price is $50.37. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The company has a market capitalization of $89.63 billion, a PE ratio of 12.48, a PEG ratio of 1.03 and a beta of 1.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same period last year, the company earned $1.07 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s payout ratio is 45.02%.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.