463,098 Shares in U.S. Bancorp $USB Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 463,098 shares of the financial services provider’s stock, valued at approximately $26,749,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mufg Bank LTD. bought a new stake in U.S. Bancorp during the second quarter worth approximately $2,680,199,000. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the second quarter worth approximately $536,457,000. First Trust Advisors LP increased its holdings in shares of U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after buying an additional 2,314,081 shares in the last quarter. KBC Group NV increased its holdings in shares of U.S. Bancorp by 259.0% in the first quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock valued at $98,217,000 after buying an additional 1,362,416 shares in the last quarter. Finally, Amundi increased its holdings in shares of U.S. Bancorp by 25.2% in the first quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock valued at $336,538,000 after buying an additional 1,301,547 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group increased their price objective on U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday. CLSA set a $67.50 target price on U.S. Bancorp in a report on Monday, July 20th. Morgan Stanley set a $68.00 target price on U.S. Bancorp in a research report on Friday, October 16th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company upped their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

U.S. Bancorp Stock Up 1.8%

NYSE:USB opened at $60.51 on Tuesday. The business’s fifty day moving average price is $59.85 and its 200 day moving average price is $58.06. The firm has a market capitalization of $94.28 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.14 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period last year, the company posted $1.22 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Insider Activity

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.