Mirae Asset Global Investments Co. Ltd. Has $11.55 Million Stock Position in U.S. Bancorp $USB

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,896 shares of the financial services provider’s stock after buying an additional 23,780 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in U.S. Bancorp were worth $11,546,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in U.S. Bancorp in the 2nd quarter valued at approximately $27,000. Pineridge Advisors LLC lifted its position in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $56.09 on Friday. The business’s 50-day simple moving average is $53.54 and its 200-day simple moving average is $49.39. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.70. The firm has a market cap of $87.18 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.01 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. DA Davidson raised their price target on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Finally, Wolfe Research downgraded U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.19.

U.S. Bancorp Company 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.