Korea Investment CORP Has $63.22 Million Stake in U.S. Bancorp (NYSE:USB)

Korea Investment CORP boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 74.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,321,709 shares of the financial services provider’s stock after buying an additional 562,631 shares during the quarter. Korea Investment CORP owned approximately 0.08% of U.S. Bancorp worth $63,217,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares during the period. Raymond James Financial Inc. acquired a new stake in U.S. Bancorp during the 4th quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $111,274,000. Finally, Madison Investment Advisors LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $96,560,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.2 %

Shares of NYSE:USB opened at $43.25 on Friday. The business’s 50 day moving average is $45.87 and its 200 day moving average is $47.57. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The stock has a market cap of $67.39 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.62%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Compass Point lifted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $53.48.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. Insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.