U.S. Bancorp (NYSE:USB) Stock Holdings Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its holdings in U.S. Bancorp by 11.1%, owning approximately 2.77 million shares worth $116.77 million as of the latest SEC filing.
• U.S. Bancorp reported a quarterly EPS of $1.11, exceeding estimates, while revenue was slightly below consensus, showing a 2.0% increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.50 per share, representing a 4.5% annual yield, with a payout ratio of 47.85%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765,766 shares of the financial services provider's stock after purchasing an additional 275,298 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of U.S. Bancorp worth $116,771,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Shelton Capital Management raised its holdings in U.S. Bancorp by 3.6% in the 4th quarter. Shelton Capital Management now owns 9,740 shares of the financial services provider's stock valued at $466,000 after acquiring an additional 338 shares during the last quarter. FIL Ltd raised its holdings in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares during the last quarter. Bank of Nova Scotia raised its holdings in U.S. Bancorp by 35.3% in the 4th quarter. Bank of Nova Scotia now owns 321,218 shares of the financial services provider's stock valued at $15,364,000 after acquiring an additional 83,725 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in U.S. Bancorp by 28.3% in the 4th quarter. Advisory Services Network LLC now owns 63,334 shares of the financial services provider's stock valued at $3,029,000 after acquiring an additional 13,953 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 1.7%

Shares of NYSE:USB traded up $0.77 during midday trading on Friday, hitting $44.86. 6,066,952 shares of the company's stock traded hands, compared to its average volume of 11,320,853. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $69.89 billion, a PE ratio of 10.73, a P/E/G ratio of 1.41 and a beta of 1.01. The firm's fifty day moving average price is $45.27 and its two-hundred day moving average price is $43.93. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. U.S. Bancorp's payout ratio is currently 47.85%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on USB. Piper Sandler cut their price target on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup boosted their price target on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Truist Financial boosted their price target on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.55.

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.