Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 879,637 shares of the financial services provider’s stock after selling 16,520 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of U.S. Bancorp worth $29,081,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. National Bank of Canada FI raised its position in U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock valued at $44,555,000 after purchasing an additional 1,032,866 shares during the last quarter. Van ECK Associates Corp grew its holdings in U.S. Bancorp by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after acquiring an additional 1,410,324 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in U.S. Bancorp by 13.5% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,256 shares of the financial services provider’s stock valued at $1,033,000 after acquiring an additional 3,719 shares during the period. First Financial Bank Trust Division raised its stake in shares of U.S. Bancorp by 3.0% during the third quarter. First Financial Bank Trust Division now owns 34,355 shares of the financial services provider’s stock valued at $1,136,000 after acquiring an additional 1,009 shares during the last quarter. Finally, OneAscent Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth $1,912,000. 75.40% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price for the company in a research report on Thursday, December 14th. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Stephens cut U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. Royal Bank of Canada increased their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Finally, TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $45.35.
Get Our Latest Analysis on USB
Insiders Place Their Bets
In other news, insider Shailesh M. Kotwal sold 2,046 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares in the company, valued at approximately $4,547,205.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now owns 119,768 shares in the company, valued at $4,738,022.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shailesh M. Kotwal sold 2,046 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the sale, the insider now owns 112,722 shares in the company, valued at $4,547,205.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,439 shares of company stock valued at $2,865,224. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Stock Down 0.5 %
USB opened at $40.18 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $62.56 billion, a P/E ratio of 12.25, a PEG ratio of 2.04 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.29. The company’s 50-day moving average is $42.18 and its 200 day moving average is $37.78.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.28. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. U.S. Bancorp’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.
U.S. Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, December 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio (DPR) is 59.76%.
About U.S. Bancorp
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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