Mufg Bank LTD. Takes Position in U.S. Bancorp $USB

Mufg Bank LTD. acquired a new position in U.S. Bancorp (NYSE:USB) during the second quarter, Holdings Channel reports. The institutional investor acquired 44,374,155 shares of the financial services provider’s stock, valued at approximately $2,680,199,000. U.S. Bancorp accounts for 75.4% of Mufg Bank LTD.’s investment portfolio, making the stock its largest position.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Empowered Funds LLC raised its stake in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the last quarter. Intech Investment Management LLC raised its stake in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at $425,000. Finally, Nebula Research & Development LLC acquired a new stake in U.S. Bancorp in the 2nd quarter worth $701,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. UBS Group lifted their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Royal Bank Of Canada upped their price target on U.S. Bancorp from $61.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Finally, DA Davidson raised their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

Insider Buying and Selling

In related news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $65.39 on Monday. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $65.61. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $101.87 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The firm has a 50-day moving average price of $61.76 and a 200 day moving average price of $57.39.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter last year, the company earned $1.11 earnings per share. Research analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

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.