Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stake in U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,619 shares of the financial services provider’s stock after selling 1,027 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in U.S. Bancorp were worth $8,120,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC grew its stake in U.S. Bancorp by 25.1% in the fourth quarter. Signaturefd LLC now owns 21,761 shares of the financial services provider’s stock valued at $942,000 after purchasing an additional 4,371 shares during the last quarter. Lindbrook Capital LLC grew its stake in U.S. Bancorp by 86.5% in the fourth quarter. Lindbrook Capital LLC now owns 6,582 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 3,052 shares during the last quarter. abrdn plc grew its stake in U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after purchasing an additional 272,976 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in U.S. Bancorp by 8.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 12,989 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Naples Money Management LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on USB. Morgan Stanley lifted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Jefferies Financial Group lifted their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Oppenheimer dropped their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Trading Up 2.6 %

Shares of NYSE:USB opened at $40.45 on Monday. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a market capitalization of $63.03 billion, a PE ratio of 13.39, a PEG ratio of 2.10 and a beta of 1.05. The business has a 50 day moving average of $42.32 and a two-hundred day moving average of $39.90. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. As a group, analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

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.