Zurcher Kantonalbank Zurich Cantonalbank Grows Position in U.S. Bancorp $USB

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 575,386 shares of the financial services provider’s stock after purchasing an additional 115,073 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in U.S. Bancorp were worth $30,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $25,000. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $26,000. Finally, JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $28,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $56.85 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $88.24 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.03 and a beta of 1.01. The business’s 50-day moving average is $54.36 and its two-hundred day moving average is $52.49. U.S. Bancorp has a 1 year low of $38.16 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.29 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. UBS Group restated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. JPMorgan Chase & Co. lowered their target price on U.S. Bancorp from $62.00 to $58.00 and set an “underweight” rating for the company in a report on Tuesday, April 7th. Barclays raised their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer raised their target price on U.S. Bancorp from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.18.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.