ZWJ Investment Counsel Inc. Sells 4,078 Shares of U.S. Bancorp (USB)
ZWJ Investment Counsel Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,291 shares of the financial services provider’s stock after selling 4,078 shares during the period. ZWJ Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $17,253,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Nippon Life Insurance Co. grew its position in shares of U.S. Bancorp by 3.0% during the 2nd quarter. Nippon Life Insurance Co. now owns 57,078 shares of the financial services provider’s stock valued at $2,963,000 after purchasing an additional 1,666 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of U.S. Bancorp by 1.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,625,567 shares of the financial services provider’s stock valued at $603,599,000 after purchasing an additional 118,063 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in shares of U.S. Bancorp by 3.4% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 63,138 shares of the financial services provider’s stock valued at $3,278,000 after purchasing an additional 2,100 shares in the last quarter. Opus Capital Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $202,000. Finally, KBC Group NV grew its position in shares of U.S. Bancorp by 14.6% during the 2nd quarter. KBC Group NV now owns 187,519 shares of the financial services provider’s stock valued at $9,736,000 after purchasing an additional 23,844 shares in the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.
USB has been the subject of a number of recent analyst reports. Citigroup Inc. restated a “neutral” rating and set a $58.00 price target (up from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC restated a “buy” rating and set a $62.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 12th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Finally, Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $53.56.
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Shares of U.S. Bancorp (NYSE:USB) opened at 53.88 on Wednesday. The firm has a 50-day moving average of $52.67 and a 200 day moving average of $52.05. The company has a market capitalization of $90.13 billion, a P/E ratio of 16.28 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.52 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the company posted $0.82 EPS. The business’s revenue was up .7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post $3.42 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.30 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.
U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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