SBI Okasan Asset Management Co.Ltd. Makes New Investment in U.S. Bancorp $USB

SBI Okasan Asset Management Co.Ltd. acquired a new position in U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 15,100 shares of the financial services provider’s stock, valued at approximately $823,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $25,000. Guerra Advisors Inc purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $28,000. Finally, Westfuller Advisors LLC lifted its holdings in U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Trading Up 0.8%

USB opened at $54.87 on Friday. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a market cap of $85.17 billion, a PE ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The business has a 50 day moving average of $54.42 and a 200-day moving average of $53.92.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USB. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research note on Friday, April 17th. Evercore raised their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Truist Financial lowered their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Oppenheimer raised their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.20.

About U.S. Bancorp

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.