Johnson Investment Counsel Inc. Sells 72,885 Shares of U.S. Bancorp $USB

Johnson Investment Counsel Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 571,365 shares of the financial services provider’s stock after selling 72,885 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $27,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC grew its position in U.S. Bancorp by 13.9% in the 3rd quarter. Profund Advisors LLC now owns 22,788 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 2,783 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of U.S. Bancorp by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 274,439 shares of the financial services provider’s stock valued at $13,264,000 after buying an additional 1,791 shares during the period. Linden Thomas Advisory Services LLC grew its position in U.S. Bancorp by 1.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 29,311 shares of the financial services provider’s stock worth $1,417,000 after buying an additional 386 shares in the last quarter. REAP Financial Group LLC increased its stake in U.S. Bancorp by 15.0% during the third quarter. REAP Financial Group LLC now owns 2,042 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 267 shares during the period. Finally, Candriam S.C.A. raised its holdings in U.S. Bancorp by 58.2% in the 3rd quarter. Candriam S.C.A. now owns 928,888 shares of the financial services provider’s stock valued at $44,893,000 after acquiring an additional 341,887 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $60.42 on Tuesday. The firm’s 50 day moving average price is $54.79 and its two-hundred day moving average price is $50.01. The firm has a market cap of $93.92 billion, a P/E ratio of 13.08, a PEG ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $60.91.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Analysts Set New Price Targets

Several analysts have recently weighed in on USB shares. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Barclays boosted their price target on shares of U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Citigroup upped their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

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.