Johnson Investment Counsel Inc. Buys 67,494 Shares of U.S. Bancorp (NYSE:USB)

Johnson Investment Counsel Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 703,401 shares of the financial services provider’s stock after acquiring an additional 67,494 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $33,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $26,000. Winch Advisory Services LLC raised its stake in shares of U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at $28,000. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays boosted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $44.77 on Monday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $69.84 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.73 and a beta of 1.02. The company’s fifty day moving average price is $47.54 and its 200-day moving average price is $47.93.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.