Sumitomo Mitsui Trust Group Inc. Sells 219,820 Shares of U.S. Bancorp $USB

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,398,345 shares of the financial services provider’s stock after selling 219,820 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in U.S. Bancorp were worth $176,748,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in U.S. Bancorp in the 3rd quarter valued at approximately $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $25,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the third quarter worth $28,000. Binnacle Investments Inc increased its holdings in U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Finally, Rossby Financial LCC increased its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares during the period. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction 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. The trade was a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s 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 completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on USB shares. Barclays raised their target price on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday. They issued a “strong-buy” rating and a $72.00 price target for the company. Wells Fargo & Company raised their price objective on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. Stephens started coverage on U.S. Bancorp in a research note on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price objective on the stock. Finally, Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $60.00 to $75.00 in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $64.31.

Trending Headlines about U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Raymond James initiated/resumed coverage on U.S. Bancorp (USB) with a Strong Buy rating and a $72 price target, implying meaningful upside and supporting investor optimism about the bank’s outlook. Street Insider article
• Positive Sentiment: Several reports highlighted that USB’s upcoming earnings are expected to grow, with commentary suggesting the company has the ingredients for a potential earnings beat, which can lift the stock ahead of results. Yahoo Finance article
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a new tool for small businesses to move money faster and more affordably through its app and online banking platform. That could support revenue growth and improve the bank’s competitive position in payments. Yahoo Finance article
• Neutral Sentiment: Multiple articles compared USB with BNY on valuation, which keeps the stock in investors’ value screens but does not by itself change the operating outlook. Zacks article
• Neutral Sentiment: U.S. Bancorp is scheduled to report quarterly earnings Thursday, making the stock more sensitive to pre-earnings positioning and guidance expectations. American Banking News article
• Negative Sentiment: Oppenheimer lowered its price target on U.S. Bancorp (USB), a cautionary signal that may reflect more tempered expectations for near-term upside. Yahoo Finance article

U.S. Bancorp Stock Up 1.3%

Shares of NYSE:USB opened at $61.79 on Friday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $63.39. 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 business’s 50-day moving average is $57.06 and its 200-day moving average is $55.75. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.11 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s payout ratio is currently 43.61%.

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.