Sumitomo Mitsui Trust Group Inc. Reduces Position in U.S. Bancorp $USB

Key Points

• Sumitomo Mitsui Trust Group Inc. cut its stake in U.S. Bancorp by 9.3% in Q4, selling 372,707 shares and now holds 3,618,165 shares (about 0.23%) valued at $193.1 million.
• U.S. Bancorp recently beat expectations with EPS of $1.26 (vs. $1.19) and revenue of $7.92 billion, and declared a quarterly dividend of $0.52 per share (3.7% yield; ex-dividend Mar 31, payable Apr 15).
• Insider Mark G. Runkel sold 32,195 shares at an average price of $60.65 (a 24.78% reduction in his holding), while hedge funds and other institutions own about 77.6% of the stock.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,618,165 shares of the financial services provider's stock after selling 372,707 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of U.S. Bancorp worth $193,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its stake in U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock worth $832,000 after acquiring an additional 184 shares during the period. Genesis Private Wealth LLC grew its stake in U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock worth $445,000 after acquiring an additional 187 shares during the period. Lantz Financial LLC grew its stake in U.S. Bancorp by 0.4% in the 4th quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock worth $2,634,000 after acquiring an additional 199 shares during the period. Park National Corp OH grew its stake in U.S. Bancorp by 0.7% in the 4th quarter. Park National Corp OH now owns 27,364 shares of the financial services provider's stock worth $1,460,000 after acquiring an additional 200 shares during the period. Finally, Romano Brothers AND Company grew its stake in U.S. Bancorp by 2.4% in the 4th quarter. Romano Brothers AND Company now owns 9,156 shares of the financial services provider's stock worth $489,000 after acquiring an additional 211 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 0.0%

Shares of U.S. Bancorp stock opened at $55.66 on Monday. The company has a fifty day moving average price of $54.78 and a 200 day moving average price of $52.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $36.48 and a twelve month high of $61.19. The stock has a market cap of $86.39 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion during the quarter, compared to analysts' expectations of $7.31 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is 45.02%.

Insiders Place Their Bets

In related news, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company's stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating for the company in a research note on Tuesday, April 7th. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Wolfe Research cut shares of U.S. Bancorp from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 7th. Finally, Evercore boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $60.26.

U.S. Bancorp Profile

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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