Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of U.S. Bancorp (NYSE:USB) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,148,726 shares of the financial services provider’s stock after selling 115,207 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in U.S. Bancorp were worth $61,035,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of USB. Bay Harbor Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $26,000. Vantage Consulting Group Inc acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Field & Main Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $27,000. Salem Investment Counselors Inc. increased its holdings in shares of U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 288 shares in the last quarter. Finally, Goodwin Investment Advisory acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $29,000. 74.31% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp stock opened at $58.61 on Friday. The firm has a market cap of $87.31 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.20 and a beta of 1.16. The business’s 50-day moving average price is $59.16. U.S. Bancorp has a fifty-two week low of $34.01 and a fifty-two week high of $62.47. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.81.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a $0.42 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 54.90%.
USB has been the subject of a number of research reports. Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 18th. Jefferies Financial Group lifted their target price on shares of U.S. Bancorp from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of U.S. Bancorp from $63.00 to $65.00 in a report on Wednesday, April 21st. JPMorgan Chase & Co. lifted their target price on shares of U.S. Bancorp from $60.00 to $64.50 and gave the stock an “overweight” rating in a report on Monday, May 3rd. Finally, Morgan Stanley lifted their target price on shares of U.S. Bancorp from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, April 16th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $60.10.
In other U.S. Bancorp news, EVP Mark G. Runkel sold 9,058 shares of the business’s stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $56.85, for a total value of $514,947.30. Following the completion of the sale, the executive vice president now owns 36,572 shares of the company’s stock, valued at approximately $2,079,118.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine B. Quinn sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $61.47, for a total transaction of $1,536,750.00. In the last quarter, insiders sold 312,153 shares of company stock worth $18,005,134. 0.23% of the stock is owned by company insiders.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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