Mitsubishi UFJ Trust & Banking Corp Trims Stake in U.S. Bancorp $USB

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of U.S. Bancorp (NYSE:USB) by 25.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 953,654 shares of the financial services provider’s stock after selling 327,102 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of U.S. Bancorp worth $43,153,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $25,000. Saudi Central Bank acquired a new stake in U.S. Bancorp during the 1st quarter worth $26,000. Activest Wealth Management grew its position in U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the last quarter. Groupe la Francaise acquired a new position in U.S. Bancorp in the first quarter valued at $41,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of U.S. Bancorp by 118.4% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after buying an additional 535 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America raised their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Cowen reissued a “buy” rating on shares of U.S. Bancorp in a report on Monday, October 20th. DA Davidson upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, TD Cowen lifted their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 1.3%

U.S. Bancorp stock opened at $47.29 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a market cap of $73.51 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The stock’s 50 day moving average price is $47.86 and its 200 day moving average price is $46.01.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

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.