Asset Management One Co. Ltd. Sells 1,634 Shares of U.S. Bancorp $USB

Asset Management One Co. Ltd. cut its position in shares of U.S. Bancorp (NYSE:USB) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 651,733 shares of the financial services provider’s stock after selling 1,634 shares during the quarter. Asset Management One Co. Ltd.’s holdings in U.S. Bancorp were worth $29,491,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of USB. Nuveen LLC bought a new position in U.S. Bancorp during the 1st quarter worth approximately $138,183,000. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. grew its position in U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the last quarter. Nordea Investment Management AB grew its position in U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after acquiring an additional 1,311,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DA Davidson raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. TD Cowen increased their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a report on Monday. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Finally, Truist Financial increased their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Up 1.0%

USB opened at $48.31 on Friday. The stock has a market cap of $75.17 billion, a PE ratio of 11.05, a PEG ratio of 1.28 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average of $48.10 and a 200-day moving average of $45.13. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts predict that U.S. Bancorp will post 4.38 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

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.