Resona Asset Management Co. Ltd. Decreases Stock Holdings in U.S. Bancorp $USB

Resona Asset Management Co. Ltd. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 508,263 shares of the financial services provider's stock after selling 24,246 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in U.S. Bancorp were worth $27,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. ProShare Advisors LLC increased its position in shares of U.S. Bancorp by 4.9% during the fourth quarter. ProShare Advisors LLC now owns 327,678 shares of the financial services provider's stock valued at $17,485,000 after acquiring an additional 15,380 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in U.S. Bancorp by 2.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 29,048 shares of the financial services provider's stock worth $1,550,000 after buying an additional 679 shares during the last quarter. RiverFront Investment Group LLC increased its holdings in U.S. Bancorp by 3.0% during the fourth quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider's stock worth $353,000 after buying an additional 196 shares during the last quarter. Sapient Capital LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth about $483,000. Finally, North Dakota State Investment Board purchased a new stake in U.S. Bancorp in the fourth quarter worth $2,858,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. UBS Group reiterated a "neutral" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. DA Davidson reiterated a "buy" rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.20.

U.S. Bancorp Trading Down 0.3%

Shares of USB stock opened at $53.28 on Wednesday. The stock has a market capitalization of $82.70 billion, a PE ratio of 11.17, a P/E/G ratio of 0.96 and a beta of 1.00. U.S. Bancorp has a 1-year low of $42.21 and a 1-year high of $61.19. The business has a 50-day moving average of $53.92 and a 200 day moving average of $53.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

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 for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.9%. U.S. Bancorp's dividend payout ratio is presently 43.61%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company's stock, valued at $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

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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