Mitsubishi UFJ Asset Management Co. Ltd. Acquires 152,273 Shares of U.S. Bancorp $USB

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in U.S. Bancorp (NYSE:USB) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,113,342 shares of the financial services provider’s stock after purchasing an additional 152,273 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of U.S. Bancorp worth $150,468,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Chemung Canal Trust Co. increased its stake in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after purchasing an additional 45,963 shares during the last quarter. Citigroup Inc. lifted its stake in U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in U.S. Bancorp by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares during the period. Synergy Asset Management LLC increased its position in U.S. Bancorp by 100.0% in the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after buying an additional 59,981 shares during the last quarter. Finally, Andra AP fonden increased its position in U.S. Bancorp by 175.6% in the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after buying an additional 292,100 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on USB shares. Oppenheimer upped their price target on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Truist Financial raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $61.00 to $66.00 in a research report on Thursday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.02.

U.S. Bancorp Price Performance

USB stock opened at $57.27 on Friday. The firm has a 50 day moving average of $56.16 and a 200-day moving average of $51.09. The company has a current ratio of 0.80, a quick 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 $61.19. The firm has a market capitalization of $88.98 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio is presently 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.