492,950 Shares in U.S. Bancorp (NYSE:USB) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 492,950 shares of the financial services provider’s stock, valued at approximately $23,622,000.

A number of other large investors have also recently added to or reduced their stakes in USB. Janus Henderson Group PLC grew its stake in U.S. Bancorp by 229.5% in the third quarter. Janus Henderson Group PLC now owns 845,686 shares of the financial services provider’s stock worth $38,671,000 after purchasing an additional 588,999 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of U.S. Bancorp by 267.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,036 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 13,849 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of U.S. Bancorp by 5.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,917 shares of the financial services provider’s stock valued at $1,460,000 after acquiring an additional 1,792 shares in the last quarter. IHT Wealth Management LLC lifted its stake in U.S. Bancorp by 6.4% during the third quarter. IHT Wealth Management LLC now owns 11,635 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 697 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in U.S. Bancorp in the third quarter worth $229,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $36.78 on Friday. The company has a market capitalization of $57.30 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day moving average of $44.92 and a 200-day moving average of $47.43. U.S. Bancorp has a one year low of $35.74 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer raised their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley decreased their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.89.

Insider Activity at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

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.