Sumitomo Mitsui Trust Group Inc. Has $176.75 Million Stock Holdings in U.S. Bancorp $USB

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 6.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,398,345 shares of the financial services provider’s stock after selling 219,820 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of U.S. Bancorp worth $176,748,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Resona Asset Management Co. Ltd. boosted its holdings in U.S. Bancorp by 1.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 516,733 shares of the financial services provider’s stock valued at $26,768,000 after purchasing an additional 8,470 shares during the period. Munich Reinsurance Co Stock Corp in Munich grew its position in shares of U.S. Bancorp by 1,373.8% during the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 61,532 shares of the financial services provider’s stock worth $3,200,000 after purchasing an additional 57,357 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of U.S. Bancorp by 16.5% during the first quarter. Personal CFO Solutions LLC now owns 18,832 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 2,667 shares during the period. Richmond Investment Services LLC raised its position in shares of U.S. Bancorp by 2.9% in the first quarter. Richmond Investment Services LLC now owns 10,403 shares of the financial services provider’s stock valued at $541,000 after buying an additional 296 shares in the last quarter. Finally, Flatrock Wealth Partners LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $268,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 1.3%

Shares of NYSE USB opened at $61.79 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market cap of $95.85 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $63.39. The stock has a 50-day moving average price of $57.06 and a two-hundred day moving average price of $55.75.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results 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. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. As a group, analysts forecast that U.S. Bancorp will post 5.11 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.4%. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price target on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday. Barclays upped their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company raised their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.31.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Raymond James initiated/resumed coverage on U.S. Bancorp (USB) with a Strong Buy rating and a $72 price target, implying meaningful upside and supporting investor optimism about the bank’s outlook. Street Insider article
• Positive Sentiment: Several reports highlighted that USB’s upcoming earnings are expected to grow, with commentary suggesting the company has the ingredients for a potential earnings beat, which can lift the stock ahead of results. Yahoo Finance article
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a new tool for small businesses to move money faster and more affordably through its app and online banking platform. That could support revenue growth and improve the bank’s competitive position in payments. Yahoo Finance article
• Neutral Sentiment: Multiple articles compared USB with BNY on valuation, which keeps the stock in investors’ value screens but does not by itself change the operating outlook. Zacks article
• Neutral Sentiment: U.S. Bancorp is scheduled to report quarterly earnings Thursday, making the stock more sensitive to pre-earnings positioning and guidance expectations. American Banking News article
• Negative Sentiment: Oppenheimer lowered its price target on U.S. Bancorp (USB), a cautionary signal that may reflect more tempered expectations for near-term upside. Yahoo Finance article

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.