Sumitomo Mitsui Trust Group Inc. Purchases 97,444 Shares of U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,591,115 shares of the financial services provider's stock after acquiring an additional 97,444 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of U.S. Bancorp worth $151,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FIL Ltd grew 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 worth $1,381,000 after purchasing an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after purchasing an additional 78,146 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. M&T Bank Corp grew its holdings in shares of U.S. Bancorp by 36.9% during the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock worth $55,427,000 after purchasing an additional 312,504 shares in the last quarter. Finally, Becker Capital Management Inc. grew its holdings in shares of U.S. Bancorp by 1.5% during 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. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Piper Sandler cut their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Citigroup cut their target price on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $50.72.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost 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 $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE USB opened at $45.79 on Friday. The company has a market cap of $71.35 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.99. The stock's 50 day simple moving average is $42.93 and its 200-day simple moving average is $44.50. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

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 return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the business posted $0.78 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.37%. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

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.

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