MUFG Securities EMEA plc Has $3.40 Million Position in U.S. Bancorp $USB

Key Points

• MUFG Securities EMEA plc more than doubled its position in U.S. Bancorp in the fourth quarter, raising its stake by 113.9% to 63,725 shares worth about $3.4 million.
• Institutional ownership in U.S. Bancorp remains very high at 77.6%, with several major investors also adding shares, including Norges Bank, Vanguard, and Davis Selected Advisers.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 versus $1.14 expected and revenue of $7.32 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $61.20.

MUFG Securities EMEA plc boosted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 113.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,725 shares of the financial services provider's stock after acquiring an additional 33,938 shares during the quarter. MUFG Securities EMEA plc's holdings in U.S. Bancorp were worth $3,400,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter worth $1,887,497,000. SG Americas Securities LLC increased its stake in shares of U.S. Bancorp by 3,451.9% in the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock valued at $231,191,000 after buying an additional 4,210,676 shares in the last quarter. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider's stock valued at $1,176,148,000 after buying an additional 2,610,197 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider's stock valued at $129,205,000 after buying an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after buying an additional 1,828,404 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. Truist Financial lowered their target price on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Oppenheimer raised their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Barclays raised their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. DA Davidson reiterated a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Finally, Royal Bank Of Canada raised their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $61.20.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $53.54 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The stock has a market cap of $83.11 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 0.99 and a beta of 0.97. The business's 50-day simple moving average is $54.47 and its 200 day simple moving average is $54.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter last year, the business earned $1.03 earnings per share. The company's revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp's dividend payout ratio (DPR) is 43.61%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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