Deprince Race & Zollo Inc. Sells 9,334 Shares of U.S. Bancorp $USB

Deprince Race & Zollo Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 794,689 shares of the financial services provider’s stock after selling 9,334 shares during the period. Deprince Race & Zollo Inc. owned 0.05% of U.S. Bancorp worth $38,407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. Geode Capital Management LLC raised its stake in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after buying an additional 456,890 shares in the last quarter. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $971,285,000. Amundi boosted its holdings in U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after purchasing an additional 422,050 shares in the last quarter. Finally, Davis Selected Advisers raised its holdings in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.1%

Shares of USB stock opened at $54.97 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a 50 day moving average price of $49.61 and a two-hundred day moving average price of $47.76. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $55.15. The company has a market capitalization of $85.45 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on USB shares. Evercore ISI boosted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a report on Monday, October 20th. Oppenheimer cut their price target on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. DA Davidson raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Citigroup boosted their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.95.

U.S. Bancorp Company Profile

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.