U.S. Bancorp (NYSE:USB) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,461,427 shares of the financial services provider's stock after buying an additional 63,230 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of U.S. Bancorp worth $158,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its position in U.S. Bancorp by 215.7% during the 1st quarter. QRG Capital Management Inc. now owns 54,043 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 36,926 shares in the last quarter. Bleakley Financial Group LLC raised its stake in U.S. Bancorp by 7.1% in the first quarter. Bleakley Financial Group LLC now owns 42,359 shares of the financial services provider's stock worth $1,893,000 after buying an additional 2,798 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in U.S. Bancorp by 23.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 233,819 shares of the financial services provider's stock worth $10,452,000 after buying an additional 44,624 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at $732,000. Finally, Eagle Bay Advisors LLC boosted its position in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.8 %

USB stock traded up $0.41 during mid-day trading on Wednesday, reaching $51.17. The company had a trading volume of 7,128,929 shares, compared to its average volume of 8,340,493. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day simple moving average of $46.69 and a 200 day simple moving average of $43.53. The company has a market capitalization of $79.83 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $35.02 and a fifty-two week high of $51.76.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same period in the prior year, the firm earned $1.05 EPS. The business's revenue was down 2.4% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on USB. StockNews.com upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lowered their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Citigroup upped their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $51.12.

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.