Asahi Life Asset Management CO. LTD. Purchases New Stake in U.S. Bancorp (NYSE:USB)

Asahi Life Asset Management CO. LTD. purchased a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,070 shares of the financial services provider's stock, valued at approximately $383,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the first quarter worth about $27,000. YANKCOM Partnership lifted its holdings in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after buying an additional 260 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp in the fourth quarter worth approximately $30,000. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the first quarter valued at about $30,000. Finally, Millstone Evans Group LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.12 during mid-day trading on Monday, reaching $47.02. The company's stock had a trading volume of 13,463,826 shares, compared to its average volume of 10,742,367. The business has a 50-day simple moving average of $44.39 and a two-hundred day simple moving average of $44.32. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a market cap of $73.26 billion, a P/E ratio of 11.64, a PEG ratio of 1.78 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the company posted $0.78 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director directly owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of several research analyst reports. Oppenheimer raised their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Cowen began coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada dropped their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.70.

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.