ZWJ Investment Counsel Inc. Sells 30,254 Shares of U.S. Bancorp $USB

Key Points

• ZWJ Investment Counsel Inc. significantly decreased its holdings in U.S. Bancorp by 84.1%, selling 30,254 shares and retaining only 5,723 shares, valued at approximately $259,000.
• U.S. Bancorp recently announced a quarterly dividend increase from $0.50 to $0.52 per share, reflecting a yield of 4.3% and a dividend payout ratio of 49.76%.
• Analyst ratings for U.S. Bancorp show a consensus of "Moderate Buy" with an average target price of $53.26, indicating positive sentiment among market experts.

ZWJ Investment Counsel Inc. trimmed its position in U.S. Bancorp (NYSE:USB - Free Report) by 84.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,723 shares of the financial services provider's stock after selling 30,254 shares during the period. ZWJ Investment Counsel Inc.'s holdings in U.S. Bancorp were worth $259,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Saudi Central Bank bought a new position in U.S. Bancorp during the 1st quarter worth $26,000. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $27,000. YANKCOM Partnership increased its position in shares of 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 buying an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of U.S. Bancorp during the first quarter worth $30,000. Finally, Rakuten Securities Inc. increased its position in shares of U.S. Bancorp by 1,212.1% during the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after buying an additional 703 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an "in-line" rating in a report on Tuesday. The Goldman Sachs Group increased their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Finally, Truist Financial increased their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $53.26.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.00 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50-day moving average of $47.61 and a 200-day moving average of $44.57. The company has a market cap of $74.69 billion, a PE ratio of 11.48, a P/E/G ratio of 1.50 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.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during 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 firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.52 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.76%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated 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 completion of the transaction, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.

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