Mitsubishi UFJ Asset Management Co. Ltd. Acquires 247,374 Shares of U.S. Bancorp (NYSE:USB)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in U.S. Bancorp (NYSE:USB) by 11.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,490,468 shares of the financial services provider’s stock after acquiring an additional 247,374 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of U.S. Bancorp worth $121,684,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Winch Advisory Services LLC lifted its stake in shares of U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates boosted its stake in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley reduced their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Oppenheimer lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.48.

Insider Activity

In related news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 1.2 %

NYSE:USB opened at $43.25 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market cap of $67.39 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.73 and a beta of 1.02. The firm has a 50-day simple moving average of $45.87 and a two-hundred day simple moving average of $47.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.62%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

U.S. Bancorp Profile

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.