Mizuho Markets Americas LLC Buys New Position in U.S. Bancorp (NYSE:USB)

Key Points

• Mizuho Markets Americas LLC acquired 787,030 shares of U.S. Bancorp, valued at approximately $33 million, in the first quarter, making it the 29th largest holding in their portfolio.
• Insider trading revealed that EVP Souheil Badran sold 23,727 shares of U.S. Bancorp, decreasing their ownership by 25.22%.
• Research analysts have varied opinions on U.S. Bancorp, with one sell rating, thirteen buy ratings, and an average target price of $52.55.

Mizuho Markets Americas LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 787,030 shares of the financial services provider's stock, valued at approximately $33,228,000. U.S. Bancorp comprises about 0.7% of Mizuho Markets Americas LLC's portfolio, making the stock its 29th largest position. Mizuho Markets Americas LLC owned approximately 0.05% of U.S. Bancorp at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $27,000. REAP Financial Group LLC boosted its position in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after buying an additional 297 shares during the last quarter. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% in the first 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. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its position in U.S. Bancorp by 1,212.1% in the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock valued at $32,000 after buying an additional 703 shares during the last quarter. 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 research reports. Keefe, Bruyette & Woods dropped their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Piper Sandler lowered their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada lowered their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

U.S. Bancorp Price Performance

NYSE USB traded up $0.17 during mid-day trading on Thursday, hitting $46.78. The stock had a trading volume of 3,700,925 shares, compared to its average volume of 10,679,764. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50 day moving average is $45.37 and its 200 day moving average is $43.90. The stock has a market capitalization of $72.79 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.43 and a beta of 1.01. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts forecast 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 was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

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.