MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stake in U.S. Bancorp (NYSE:USB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,232 shares of the financial services provider's stock after selling 11,500 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in U.S. Bancorp were worth $8,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $26,000. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Picton Mahoney Asset Management purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Finally, Millstone Evans Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. TD Cowen initiated coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target for the company. Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group reduced their price target on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Raymond James reiterated an "outperform" rating and set a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Finally, Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.89.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.17 during trading on Friday, reaching $42.95. The stock had a trading volume of 5,798,479 shares, compared to its average volume of 9,095,333. 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 business has a fifty day moving average price of $40.97 and a 200-day moving average price of $45.87. The stock has a market cap of $66.91 billion, a PE ratio of 11.33, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.