Johnson Financial Group Inc. Sells 28,742 Shares of U.S. Bancorp (USB)
Johnson Financial Group Inc. reduced its holdings in U.S. Bancorp (NYSE:USB) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,698 shares of the financial services provider’s stock after selling 28,742 shares during the quarter. Johnson Financial Group Inc.’s holdings in U.S. Bancorp were worth $1,515,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Stelac Advisory Services LLC acquired a new position in U.S. Bancorp in the third quarter worth about $103,000. Horan Capital Management bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $109,000. Integrated Investment Consultants LLC bought a new position in U.S. Bancorp in the second quarter valued at approximately $135,000. Field & Main Bank boosted its stake in U.S. Bancorp by 49.9% in the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,000 shares during the last quarter. Finally, NEXT Financial Group Inc bought a new position in U.S. Bancorp in the third quarter valued at approximately $181,000. 74.39% of the stock is currently owned by institutional investors.
In other news, Chairman Andrew Cecere sold 183,374 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $52.95, for a total transaction of $9,709,653.30. Following the completion of the sale, the chairman now owns 892,517 shares of the company’s stock, valued at approximately $47,258,775.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Omaley sold 10,902 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $53.66, for a total value of $585,001.32. Following the transaction, the director now owns 212,789 shares of the company’s stock, valued at $11,418,257.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,073 shares of company stock valued at $13,383,882. 0.43% of the stock is owned by insiders.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current year.
Several research firms have weighed in on USB. ValuEngine lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Wedbush set a $58.00 price target on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Thursday, October 18th. Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $62.00 in a research report on Wednesday, October 10th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $59.47.
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U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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