Resona Asset Management Co. Ltd. Invests $23.62 Million in U.S. Bancorp (NYSE:USB)

Resona Asset Management Co. Ltd. acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 492,950 shares of the financial services provider’s stock, valued at approximately $23,622,000.

A number of other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $26,000. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp in the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its stake in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Truist Financial dropped their price target on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.89.

U.S. Bancorp Stock Down 5.2 %

USB opened at $36.78 on Friday. The company has a market capitalization of $57.30 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s fifty day moving average price is $44.92 and its two-hundred day moving average price is $47.43. U.S. Bancorp has a fifty-two week low of $35.74 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

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.