U.S. Bancorp $USB Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in U.S. Bancorp (NYSE:USB) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,289,416 shares of the financial services provider’s stock after selling 286,314 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of U.S. Bancorp worth $189,997,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mufg Bank LTD. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $2,680,199,000. Bank of America Corp DE boosted its position in U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after purchasing an additional 1,022,898 shares during the period. Dimensional Fund Advisors LP boosted its position in U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the period. Bank of New York Mellon Corp bought a new position in U.S. Bancorp during the 2nd quarter worth $536,457,000. Finally, First Trust Advisors LP grew its stake in U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada cut their target price on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Barclays upped their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 6th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, October 16th. Finally, TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They issued a “buy” rating and a $70.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.21.

U.S. Bancorp Stock Performance

USB stock opened at $59.47 on Monday. The company has a market capitalization of $92.66 billion, a P/E ratio of 11.59, a PEG ratio of 1.13 and a beta of 1.02. The company has a 50-day simple moving average of $59.88 and a 200 day simple moving average of $58.03. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. U.S. Bancorp’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Sell-side analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s payout ratio is 42.11%.

Insider Activity

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.