Resona Asset Management Co. Ltd. Lowers Stake in U.S. Bancorp $USB

Resona Asset Management Co. Ltd. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 508,263 shares of the financial services provider’s stock after selling 24,246 shares during the period. Resona Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $27,222,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in USB. SG Americas Securities LLC increased its position in U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after acquiring an additional 4,210,676 shares during the last quarter. Davis Selected Advisers increased its holdings in U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares during the last quarter. AQR Capital Management LLC increased its holdings in U.S. Bancorp by 354.5% during the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after buying an additional 2,227,103 shares during the last quarter. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after buying an additional 1,828,404 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in U.S. Bancorp by 16.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock valued at $560,559,000 after buying an additional 1,631,550 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on USB. JPMorgan Chase & Co. reduced their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Oppenheimer upped their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price target on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Argus upped their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Barclays upped their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Stock Performance

NYSE USB opened at $53.28 on Wednesday. The stock has a market capitalization of $82.70 billion, a PE ratio of 11.17, a P/E/G ratio of 0.96 and a beta of 1.00. The business has a 50 day simple moving average of $53.92 and a two-hundred day simple moving average of $53.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $42.21 and a 1-year high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s payout ratio is presently 43.61%.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

U.S. Bancorp Company Profile

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.