Deprince Race & Zollo Inc. Sells 11,559 Shares of U.S. Bancorp (NYSE:USB)

Deprince Race & Zollo Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,545 shares of the financial services provider’s stock after selling 11,559 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in U.S. Bancorp were worth $33,409,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. APG Asset Management N.V. boosted its stake in shares of U.S. Bancorp by 203.2% in the 2nd quarter. APG Asset Management N.V. now owns 182,496 shares of the financial services provider’s stock worth $6,760,000 after buying an additional 122,300 shares during the last quarter. AQR Capital Management LLC lifted its holdings in U.S. Bancorp by 414.4% during the second quarter. AQR Capital Management LLC now owns 572,617 shares of the financial services provider’s stock worth $22,653,000 after acquiring an additional 461,291 shares during the period. AXA S.A. boosted its position in U.S. Bancorp by 79.2% in the second quarter. AXA S.A. now owns 90,862 shares of the financial services provider’s stock worth $3,607,000 after purchasing an additional 40,147 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of U.S. Bancorp by 32.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 4,449 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Alley Investment Management Company LLC raised its stake in shares of U.S. Bancorp by 1.2% during the 2nd quarter. Alley Investment Management Company LLC now owns 133,721 shares of the financial services provider’s stock worth $5,309,000 after purchasing an additional 1,530 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Down 2.0 %

Shares of USB stock opened at $44.75 on Thursday. The business has a 50-day moving average price of $44.51 and a two-hundred day moving average price of $42.34. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $69.83 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is a boost 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 4.47%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp announced that its board has authorized a share buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Morgan Stanley upped their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Evercore ISI boosted their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. DA Davidson increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Citigroup boosted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $48.18.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

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.