Johnson Financial Group Inc. Cuts Stake in U.S. Bancorp (NYSE:USB)

Johnson Financial Group Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,372 shares of the financial services provider’s stock after selling 27,241 shares during the period. Johnson Financial Group Inc.’s holdings in U.S. Bancorp were worth $1,242,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Mufg Bank LTD. raised its stake in shares of U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares during the period. FMR LLC lifted its position in shares of U.S. Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock valued at $1,238,765,000 after buying an additional 674,583 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares during the period. Finally, Aristotle Capital Management LLC increased its holdings in U.S. Bancorp by 266.6% in the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.51 during trading on Friday, hitting $40.53. 6,156,240 shares of the stock traded hands, compared to its average volume of 7,008,351. U.S. Bancorp has a 52 week low of $29.33 and a 52 week high of $45.85. The stock has a market cap of $63.25 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.86 and a beta of 1.05. The firm’s fifty day moving average is $41.99 and its 200-day moving average is $41.37. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group cut their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. JPMorgan Chase & Co. dropped their target price on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.