Johnson Investment Counsel Inc. Has $29.15 Million Position in U.S. Bancorp $USB

Key Points

• Johnson Investment Counsel Inc. reduced its stake in U.S. Bancorp by 6.8% during the second quarter, holding 644,250 shares valued at approximately $29.15 million.
• U.S. Bancorp recently increased its quarterly dividend to $0.52, which translates to an annual yield of 4.6%, up from the previous $0.50.
• Wall Street analysts have given U.S. Bancorp a consensus rating of "Moderate Buy" with a target price of $53.11, reflecting growing confidence in the company's performance.

Johnson Investment Counsel Inc. lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 644,250 shares of the financial services provider's stock after selling 46,737 shares during the period. Johnson Investment Counsel Inc.'s holdings in U.S. Bancorp were worth $29,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in U.S. Bancorp during the first quarter worth approximately $26,000. Westend Capital Management LLC bought a new stake in U.S. Bancorp during the first quarter worth approximately $27,000. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. Finally, Cornerstone Planning Group LLC boosted its position in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on USB shares. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Wednesday. UBS Group upped their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Morgan Stanley set a $56.00 price objective on U.S. Bancorp and gave the company an "equal weight" rating in a research report on Monday, September 29th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.11.

U.S. Bancorp Stock Down 3.8%

Shares of USB stock opened at $45.29 on Friday. The stock has a market cap of $70.48 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a fifty day moving average price of $47.76 and a 200 day moving average price of $44.69. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's dividend payout ratio is 49.76%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.23% of the company's stock.

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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