Resona Asset Management Co. Ltd. Buys New Shares in U.S. Bancorp (NYSE:USB)

Resona Asset Management Co. Ltd. acquired a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 492,950 shares of the financial services provider's stock, valued at approximately $23,622,000.

Other hedge funds also recently modified their holdings of the company. Winch Advisory Services LLC raised its position in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp in the fourth quarter valued at about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth about $28,000. Global Wealth Strategies & Associates grew its holdings in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

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U.S. Bancorp Stock Down 1.4 %

Shares of NYSE:USB traded down $0.52 during trading on Friday, hitting $36.73. 5,497,622 shares of the company's stock traded hands, compared to its average volume of 8,922,561. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average price of $43.65 and a 200-day moving average price of $47.07. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a market cap of $57.23 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 net margin of 14.75% and a return on equity of 12.94%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 52.77%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research reports. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 3rd. Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Citigroup decreased their price target on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.52.

U.S. Bancorp 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.