Asset Management One Co. Ltd. Lowers Position in U.S. Bancorp (NYSE:USB)

Asset Management One Co. Ltd. lessened its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,042 shares of the financial services provider’s stock after selling 10,839 shares during the quarter. Asset Management One Co. Ltd.’s holdings in U.S. Bancorp were worth $23,387,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Probity Advisors Inc. raised its stake in U.S. Bancorp by 0.8% during the second quarter. Probity Advisors Inc. now owns 25,764 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 214 shares in the last quarter. Loveless Wealth Management LLC raised its stake in U.S. Bancorp by 2.0% during the second quarter. Loveless Wealth Management LLC now owns 10,770 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 215 shares in the last quarter. Moloney Securities Asset Management LLC raised its stake in U.S. Bancorp by 0.6% during the second quarter. Moloney Securities Asset Management LLC now owns 38,498 shares of the financial services provider’s stock valued at $1,772,000 after purchasing an additional 215 shares in the last quarter. SouthState Corp raised its stake in U.S. Bancorp by 0.3% during the second quarter. SouthState Corp now owns 80,675 shares of the financial services provider’s stock valued at $3,713,000 after purchasing an additional 216 shares in the last quarter. Finally, Smith Salley & Associates raised its stake in U.S. Bancorp by 0.3% during the third quarter. Smith Salley & Associates now owns 69,471 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on USB shares. Compass Point decreased their price target on shares of U.S. Bancorp to $43.00 in a research note on Thursday, October 20th. JPMorgan Chase & Co. boosted their price objective on shares of U.S. Bancorp from $46.00 to $47.00 in a research report on Wednesday, November 2nd. Piper Sandler cut their price objective on shares of U.S. Bancorp to $45.00 in a research report on Thursday, September 29th. DA Davidson started coverage on shares of U.S. Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of U.S. Bancorp to $50.00 in a research report on Friday, December 2nd. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $53.67.

Insiders Place Their Bets

In other U.S. Bancorp news, CFO Terrance R. Dolan sold 12,000 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $43.14, for a total transaction of $517,680.00. Following the transaction, the chief financial officer now directly owns 153,051 shares in the company, valued at approximately $6,602,620.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Terrance R. Dolan sold 12,000 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $43.14, for a total value of $517,680.00. Following the completion of the transaction, the chief financial officer now directly owns 153,051 shares of the company’s stock, valued at approximately $6,602,620.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gillern Jeffry H. Von sold 27,183 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $43.99, for a total transaction of $1,195,780.17. Following the completion of the transaction, the insider now owns 128,204 shares in the company, valued at approximately $5,639,693.96. The disclosure for this sale can be found here. Insiders have sold a total of 139,249 shares of company stock worth $6,064,745 in the last three months. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 2.1 %

Shares of U.S. Bancorp stock opened at $46.67 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.77 and a quick ratio of 0.76. U.S. Bancorp has a 1 year low of $38.39 and a 1 year high of $60.50. The firm’s 50-day moving average is $44.50 and its two-hundred day moving average is $44.69. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.48 and a beta of 0.96.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, December 29th. U.S. Bancorp’s payout ratio is 45.61%.

U.S. Bancorp Company Profile

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.