Taikang Asset Management Hong Kong Co Ltd Makes New Investment in U.S. Bancorp $USB

Key Points

• Taikang Asset Management Hong Kong Co Ltd invested approximately $7.99 million in U.S. Bancorp, acquiring 189,256 shares, which makes up about 1.1% of its total holdings.
• Brokerages are optimistic about U.S. Bancorp, with Goldman Sachs raising the target price to $46 and several others maintaining or upgrading their ratings, resulting in an average rating of "Moderate Buy."
• U.S. Bancorp declared a quarterly dividend of $0.50 per share, representing a 4.1% yield, with a dividend payout ratio of 47.85% as of the last reported quarter.

Taikang Asset Management Hong Kong Co Ltd acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 189,256 shares of the financial services provider's stock, valued at approximately $7,990,000. U.S. Bancorp accounts for about 1.1% of Taikang Asset Management Hong Kong Co Ltd's investment portfolio, making the stock its 23rd largest holding.

A number of other institutional investors have also recently bought and sold shares of USB. TrinityPoint Wealth LLC raised its stake in shares of U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 231 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after buying an additional 242 shares during the period. Bestgate Wealth Advisors LLC increased its position in shares of U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after buying an additional 253 shares during the period. Atlantic Family Wealth LLC grew its holdings in U.S. Bancorp by 4.2% in the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after purchasing an additional 254 shares during the period. Finally, YANKCOM Partnership grew its holdings in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the period. Institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. Truist Financial raised their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. DA Davidson raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price target on the stock. Morgan Stanley raised their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB traded up $0.20 during trading hours on Friday, hitting $48.87. The company's stock had a trading volume of 12,056,390 shares, compared to its average volume of 10,536,979. The company has a market cap of $76.05 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $46.14 and a two-hundred day simple moving average of $43.86. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.1%. U.S. Bancorp's payout ratio is currently 47.85%.

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.