Mufg Bank LTD. Takes Position in U.S. Bancorp $USB

Mufg Bank LTD. purchased a new position in U.S. Bancorp (NYSE:USB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,374,155 shares of the financial services provider’s stock, valued at approximately $2,680,199,000. U.S. Bancorp makes up about 75.4% of Mufg Bank LTD.’s investment portfolio, making the stock its biggest holding. Mufg Bank LTD. owned 2.86% of U.S. Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $28,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the third quarter worth $28,000. Binnacle Investments Inc increased its stake in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the last quarter. Finally, NFSG Corp purchased a new stake in shares of U.S. Bancorp during the first quarter worth $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on USB shares. Evercore raised U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Monday, July 20th. Citigroup reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Tuesday, July 21st. Truist Financial raised their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. DA Davidson lifted their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

U.S. Bancorp Stock Down 0.1%

USB stock opened at $65.39 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $65.61. The company has a fifty day simple moving average of $61.76 and a 200 day simple moving average of $57.39. The firm has a market cap of $101.87 billion, a PE ratio of 13.05, a PEG ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

U.S. Bancorp 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.