U.S. Bancorp $USB Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 25.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 953,654 shares of the financial services provider’s stock after selling 327,102 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in U.S. Bancorp were worth $43,153,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of USB. Crestwood Advisors Group LLC lifted its holdings in U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares in the last quarter. Ally Financial Inc. lifted its stake in shares of U.S. Bancorp by 12.3% during the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 10,000 shares during the period. Andra AP fonden boosted its position in U.S. Bancorp by 175.6% during the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after acquiring an additional 292,100 shares during the last quarter. Jump Financial LLC grew its stake in U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after acquiring an additional 799,368 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in U.S. Bancorp in the 1st quarter valued at $428,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.3%

USB opened at $47.29 on Friday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The firm has a 50 day moving average price of $47.86 and a 200 day moving average price of $46.01. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $73.51 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. U.S. Bancorp’s payout ratio is currently 47.60%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on USB. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. DA Davidson raised their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

About U.S. Bancorp

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.