Zions Bancorporation National Association UT Takes $8.31 Million Position in U.S. Bancorp (NYSE:USB)

Key Points

• Zions Bancorporation made a new investment in U.S. Bancorp, purchasing 196,716 shares valued at approximately $8.31 million.
• U.S. Bancorp reported a quarterly earnings per share of $1.11, exceeding estimates of $1.07, with revenues slightly lower than the consensus forecast at $7.06 billion.
• The company announced a quarterly dividend of $0.50 per share, equating to a 4.5% yield and a payout ratio of 47.85%.

Zions Bancorporation National Association UT acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 196,716 shares of the financial services provider's stock, valued at approximately $8,305,000.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Marshall Wace LLP raised its holdings in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. Northern Trust Corp raised its holdings in U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after buying an additional 1,670,305 shares in the last quarter. GAMMA Investing LLC raised its holdings in U.S. Bancorp by 4,160.7% during the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after buying an additional 1,511,293 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in U.S. Bancorp during the fourth quarter valued at about $64,257,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB traded up $0.77 during trading on Friday, reaching $44.86. 6,066,952 shares of the company traded hands, compared to its average volume of 11,320,853. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock's 50 day moving average price is $45.27 and its two-hundred day moving average price is $43.93. The company has a market cap of $69.89 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.41 and a beta of 1.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

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 for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Analyst Ratings Changes

USB has been the topic of several recent research reports. Royal Bank Of Canada cut their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Cowen started coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.55.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% 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 this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Company Profile

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.