Resona Asset Management Co. Ltd. Has $25.79 Million Position in U.S. Bancorp $USB

Resona Asset Management Co. Ltd. decreased its holdings in U.S. Bancorp (NYSE:USB) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,509 shares of the financial services provider’s stock after selling 37,660 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $25,792,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in USB. Lockheed Martin Investment Management Co. acquired a new position in U.S. Bancorp in the third quarter worth about $7,138,000. Teacher Retirement System of Texas boosted its holdings in U.S. Bancorp by 24.2% during the third quarter. Teacher Retirement System of Texas now owns 600,686 shares of the financial services provider’s stock valued at $29,031,000 after purchasing an additional 116,994 shares in the last quarter. Myriad Asset Management US LP bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $321,000. Probity Advisors Inc. raised its holdings in shares of U.S. Bancorp by 3.7% in the 3rd quarter. Probity Advisors Inc. now owns 50,000 shares of the financial services provider’s stock worth $2,417,000 after buying an additional 1,785 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its position in shares of U.S. Bancorp by 1.2% during the 3rd quarter. Naples Global Advisors LLC now owns 66,127 shares of the financial services provider’s stock worth $3,227,000 after buying an additional 797 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America upped their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. HSBC reaffirmed a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday. Argus upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $58.19.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $55.50 on Friday. The stock has a 50-day simple moving average of $52.57 and a 200 day simple moving average of $49.10. The stock has a market capitalization of $86.27 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.00 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.70.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the company posted $1.07 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 45.02%.

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.