Sompo Japan Nipponkoa Asset Management CO. LTD. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,760 shares of the financial services provider’s stock after purchasing an additional 34,850 shares during the quarter. U.S. Bancorp accounts for 2.8% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 8th largest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in U.S. Bancorp were worth $13,401,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Horan Capital Management acquired a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $109,000. Integrated Investment Consultants LLC acquired a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $135,000. Field & Main Bank grew its position in shares of U.S. Bancorp by 49.9% in the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. NEXT Financial Group Inc acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $181,000. Finally, Polaris Greystone Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $185,000. Hedge funds and other institutional investors own 74.42% of the company’s stock.
NYSE:USB opened at $53.15 on Friday. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50. The company has a market cap of $84.97 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.71 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.91.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.48 dividend on an annualized basis and a yield of 2.78%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s payout ratio is currently 43.27%.
Several research analysts have recently commented on USB shares. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Nomura decreased their target price on U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, October 18th. Citigroup lowered U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Finally, Oppenheimer upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 target price for the company in a research report on Thursday, October 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.36.
In related news, Chairman Andrew Cecere sold 183,374 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $52.95, for a total transaction of $9,709,653.30. Following the completion of the transaction, the chairman now owns 892,517 shares in the company, valued at approximately $47,258,775.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the transaction, the insider now owns 121,137 shares of the company’s stock, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. Insiders have sold a total of 216,406 shares of company stock valued at $11,420,610 in the last 90 days. Insiders own 0.43% of the company’s stock.
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U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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