Sumitomo Mitsui Trust Group Inc. Buys 32,244 Shares of U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,493,671 shares of the financial services provider’s stock after purchasing an additional 32,244 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in U.S. Bancorp were worth $167,102,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the last quarter. Frazier Financial Advisors LLC raised its holdings in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Albion Financial Group UT grew its holdings in U.S. Bancorp by 92.8% during the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 335 shares during the period. Finally, Global Trust Asset Management LLC acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Evercore ISI increased their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Finally, Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Trading Down 1.1 %

USB opened at $47.22 on Friday. The company’s 50 day moving average is $49.21 and its 200-day moving average is $47.42. The company has a market cap of $73.66 billion, a P/E ratio of 12.46, a PEG ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. Equities research analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. U.S. Bancorp’s dividend payout ratio is 52.77%.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.