Taikang Asset Management Hong Kong Co Ltd Boosts Stake in U.S. Bancorp $USB

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in U.S. Bancorp by 16.3% in the fourth quarter, buying 40,575 additional shares and bringing its total to 289,357 shares worth about $15.44 million.
• U.S. Bancorp has drawn mixed analyst sentiment: several firms raised price targets, but JPMorgan kept an underweight rating and Wall Street Zen cut the stock to sell. Overall, MarketBeat shows a Moderate Buy consensus with an average target price of $61.29.
• The bank reported better-than-expected quarterly results, with EPS of $1.18 versus estimates of $1.14 and revenue of $7.32 billion. It also announced a quarterly dividend of $0.52 per share, implying a 3.5% annual yield.

Taikang Asset Management Hong Kong Co Ltd raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,357 shares of the financial services provider's stock after buying an additional 40,575 shares during the period. U.S. Bancorp makes up about 1.5% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 18th biggest holding. Taikang Asset Management Hong Kong Co Ltd's holdings in U.S. Bancorp were worth $15,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA boosted its position in U.S. Bancorp by 14.2% in the 4th quarter. Berkshire Asset Management LLC PA now owns 6,764 shares of the financial services provider's stock valued at $361,000 after buying an additional 841 shares during the last quarter. Howe & Rusling Inc. boosted its position in U.S. Bancorp by 84.4% in the 4th quarter. Howe & Rusling Inc. now owns 19,763 shares of the financial services provider's stock valued at $1,055,000 after buying an additional 9,044 shares during the last quarter. Rothschild Wealth LLC purchased a new position in U.S. Bancorp in the 4th quarter valued at about $397,000. Aster Capital Management DIFC Ltd purchased a new position in U.S. Bancorp in the 4th quarter valued at about $569,000. Finally, Oddo BHF Asset Management Sas boosted its position in U.S. Bancorp by 27.4% in the 4th quarter. Oddo BHF Asset Management Sas now owns 23,587 shares of the financial services provider's stock valued at $1,259,000 after buying an additional 5,072 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of 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. Wall Street Zen cut shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Royal Bank Of Canada increased their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Barclays increased their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Finally, Stephens started coverage on shares of U.S. Bancorp in a research report on Monday. They set an "equal weight" rating and a $63.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average target price of $61.29.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at $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 owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $58.87 on Wednesday. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $91.32 billion, a P/E ratio of 12.34, a PEG ratio of 1.04 and a beta of 0.97. The firm's 50 day moving average is $55.46 and its two-hundred day moving average is $54.71.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 43.61%.

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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