Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in U.S. Bancorp (NYSE:USB) by 15.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 253,760 shares of the financial services provider’s stock after buying an additional 34,850 shares during the quarter. U.S. Bancorp makes up approximately 2.8% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s investment portfolio, making the stock its 8th largest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in U.S. Bancorp were worth $13,401,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CORDA Investment Management LLC. raised its stake in shares of U.S. Bancorp by 169.4% in the 3rd quarter. CORDA Investment Management LLC. now owns 276,562 shares of the financial services provider’s stock worth $14,605,000 after buying an additional 173,887 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth $808,000. Dupont Capital Management Corp raised its stake in shares of U.S. Bancorp by 14.4% in the 3rd quarter. Dupont Capital Management Corp now owns 103,064 shares of the financial services provider’s stock worth $5,443,000 after buying an additional 12,955 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of U.S. Bancorp by 1,078.1% in the 3rd quarter. Penserra Capital Management LLC now owns 31,632 shares of the financial services provider’s stock worth $1,670,000 after buying an additional 28,947 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of U.S. Bancorp by 13.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 16,741 shares of the financial services provider’s stock worth $863,000 after buying an additional 1,954 shares in the last quarter. 74.42% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of U.S. Bancorp stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, the insider now owns 124,086 shares in the company, valued at $6,565,390.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of U.S. Bancorp stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the transaction, the insider now owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. Insiders have sold 216,406 shares of company stock worth $11,420,610 over the last ninety days. 0.43% of the stock is owned by insiders.
Shares of U.S. Bancorp stock opened at $53.15 on Friday. The firm has a market cap of $84.97 billion, a PE ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. U.S. Bancorp’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. U.S. Bancorp’s payout ratio is 43.27%.
A number of analysts have recently commented on the company. CIBC raised U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, October 12th. Macquarie raised U.S. Bancorp from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $62.00 in a research note on Wednesday, October 10th. Finally, UBS Group set a $56.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.36.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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