Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,490,468 shares of the financial services provider’s stock after acquiring an additional 247,374 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $121,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in U.S. Bancorp during the 4th quarter valued at approximately $26,000. Winch Advisory Services LLC boosted its stake in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the 4th quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. Oppenheimer boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup reduced their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Compass Point increased their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $53.48.

U.S. Bancorp Stock Down 1.2 %

Shares of NYSE USB opened at $43.25 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The stock’s fifty day simple moving average is $45.87 and its two-hundred day simple moving average is $47.57. The stock has a market capitalization of $67.39 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.62%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

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.