Sumitomo Mitsui Trust Group Inc. Boosts Holdings in U.S. Bancorp $USB

Sumitomo Mitsui Trust Group Inc. increased its holdings in U.S. Bancorp (NYSE:USB) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,990,872 shares of the financial services provider’s stock after purchasing an additional 42,730 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in U.S. Bancorp were worth $192,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in U.S. Bancorp during the second quarter valued at about $971,285,000. Davis Selected Advisers lifted its stake in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after acquiring an additional 4,442,623 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of U.S. Bancorp by 1,589.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after acquiring an additional 3,266,724 shares during the last quarter. AQR Capital Management LLC boosted its holdings in U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after acquiring an additional 2,227,103 shares during the period. Finally, Vanguard Group Inc. grew its position in U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after acquiring an additional 2,038,996 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $54.39 on Tuesday. The company has a market cap of $84.55 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.96 and a beta of 1.07. The business’s fifty day simple moving average is $51.23 and its two-hundred day simple moving average is $48.63. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $56.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred 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 $10,607,932.50. This trade represents a 10.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on USB. Wolfe Research cut shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Oppenheimer reduced their price target on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Citigroup lifted their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.30.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.