Zions Bancorporation N.A. Increases Stock Position in U.S. Bancorp (NYSE:USB)

Zions Bancorporation N.A. boosted its stake in U.S. Bancorp (NYSE:USB) by 9.7% during the third quarter, HoldingsChannel reports. The firm owned 172,071 shares of the financial services provider’s stock after buying an additional 15,281 shares during the period. U.S. Bancorp comprises about 0.6% of Zions Bancorporation N.A.’s portfolio, making the stock its 24th biggest holding. Zions Bancorporation N.A.’s holdings in U.S. Bancorp were worth $7,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $25,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the second quarter worth $30,000. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the second quarter worth $33,000. Finally, Crewe Advisors LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth $39,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

NYSE USB opened at $51.17 on Thursday. U.S. Bancorp has a 52 week low of $35.02 and a 52 week high of $51.76. The firm has a market capitalization of $79.83 billion, a P/E ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $46.79 and a 200-day moving average price of $43.58.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its board has authorized a stock buyback program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. U.S. Bancorp’s payout ratio is 61.16%.

Wall Street Analyst Weigh In

Several research analysts recently commented on USB shares. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp 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.