SBI Okasan Asset Management Co.Ltd. Makes New Investment in U.S. Bancorp $USB

SBI Okasan Asset Management Co.Ltd. bought a new position in U.S. Bancorp (NYSE:USB) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,100 shares of the financial services provider’s stock, valued at approximately $823,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. State Street Corp increased its holdings in shares of U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after purchasing an additional 648,943 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of U.S. Bancorp by 7.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after purchasing an additional 1,189,525 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB stock opened at $54.87 on Friday. The company has a market cap of $85.17 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $54.42 and its 200-day moving average price is $53.92.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. On average, equities analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s payout ratio is 43.61%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value 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 trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group reissued a “neutral” rating and issued a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Barclays lifted their target price on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Oppenheimer raised their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley set a $64.00 price target on U.S. Bancorp in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.20.

About U.S. Bancorp

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.