Mirae Asset Global Investments Co. Ltd. Sells 1,114,128 Shares of U.S. Bancorp (NYSE:USB)

Mirae Asset Global Investments Co. Ltd. lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 85.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,780 shares of the financial services provider's stock after selling 1,114,128 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in U.S. Bancorp were worth $7,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FIL Ltd raised its holdings in shares of U.S. Bancorp by 42.0% during the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. increased its position in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after acquiring an additional 78,146 shares during the period. Vanguard Group Inc. raised its stake in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp boosted its position in U.S. Bancorp by 36.9% during the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock worth $55,427,000 after acquiring an additional 312,504 shares during the period. Finally, Becker Capital Management Inc. grew its stake in shares of U.S. Bancorp by 1.5% in the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after purchasing an additional 8,204 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction that occurred 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 completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Up 1.2%

USB traded up $0.56 on Wednesday, hitting $47.05. 2,739,593 shares of the company were exchanged, compared to its average volume of 9,270,795. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The stock's fifty day moving average is $43.23 and its 200-day moving average is $44.43. The company has a market cap of $73.30 billion, a PE ratio of 11.62, a PEG ratio of 1.70 and a beta of 0.99. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period last year, the business earned $0.78 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.38 EPS 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.25%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Analysts Set New Price Targets

USB has been the subject of several research analyst reports. Oppenheimer upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Finally, Truist Financial cut their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.72.

U.S. Bancorp Company 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.