Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in U.S. Bancorp (NYSE:USB) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 217,414 shares of the financial services provider’s stock after purchasing an additional 10,919 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in U.S. Bancorp were worth $10,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares during the last quarter. FMR LLC lifted its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of U.S. Bancorp by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last quarter. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $47.22 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market capitalization of $73.66 billion, a PE ratio of 12.46, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average price is $49.21 and its 200 day moving average price is $47.42.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on USB shares. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a report on Monday, January 13th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Morgan Stanley cut their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Stephens increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Oppenheimer boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.