Zurcher Kantonalbank Zurich Cantonalbank Has $28.43 Million Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• Zurcher Kantonalbank increased its holdings in U.S. Bancorp by 10.9%, acquiring an additional 65,919 shares during the first quarter, bringing its total to 673,271 shares valued at approximately $28.4 million.
• Analysts have set varied price targets for U.S. Bancorp, with Wells Fargo lowering its target from $56 to $50, while Oppenheimer increased its target from $65 to $66, reflecting a consensus rating of "Moderate Buy".
• The company declared a quarterly dividend of $0.50 per share, representing an annualized yield of 4.34%, with a payout ratio of 47.85%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 673,271 shares of the financial services provider's stock after buying an additional 65,919 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in U.S. Bancorp were worth $28,426,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Accretive Wealth Partners LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $455,000. Empirical Finance LLC boosted its stake in shares of U.S. Bancorp by 1.9% during the 1st quarter. Empirical Finance LLC now owns 50,373 shares of the financial services provider's stock worth $2,127,000 after buying an additional 948 shares during the last quarter. Bearing Point Capital LLC boosted its stake in shares of U.S. Bancorp by 11.5% during the 1st quarter. Bearing Point Capital LLC now owns 54,272 shares of the financial services provider's stock worth $2,291,000 after buying an additional 5,591 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of U.S. Bancorp by 10.4% in the 1st quarter. HB Wealth Management LLC now owns 214,235 shares of the financial services provider's stock valued at $9,045,000 after purchasing an additional 20,199 shares during the period. Finally, Mediolanum International Funds Ltd lifted its stake in U.S. Bancorp by 53.8% in the 1st quarter. Mediolanum International Funds Ltd now owns 50,092 shares of the financial services provider's stock valued at $2,117,000 after purchasing an additional 17,529 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares in the company, valued at $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 at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of USB stock traded down $1.07 during trading hours on Friday, reaching $43.89. The company's stock had a trading volume of 4,755,017 shares, compared to its average volume of 10,881,036. The firm's 50 day simple moving average is $45.15 and its 200-day simple moving average is $44.15. The company has a market capitalization of $68.39 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.44 and a beta of 0.99. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results 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. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.6%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Evercore ISI increased their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

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.