Meiji Yasuda Life Insurance Co Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

Meiji Yasuda Life Insurance Co decreased its stake in U.S. Bancorp (NYSE:USB) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,946 shares of the financial services provider’s stock after selling 3,337 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in U.S. Bancorp were worth $1,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $30,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $31,000. Eagle Bay Advisors LLC boosted its holdings in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on USB shares. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research note on Thursday, June 27th. Citigroup raised their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Evercore ISI raised their price target on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Trading Down 0.0 %

Shares of NYSE USB opened at $44.68 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $69.72 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The business has a fifty day moving average price of $44.14 and a 200 day moving average price of $42.25.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. Equities research analysts expect that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 66.23%.

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.