U.S. Bancorp (USB) Holdings Raised by Sompo Japan Nipponkoa Asset Management CO. LTD.

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.

COPYRIGHT VIOLATION NOTICE: “U.S. Bancorp (USB) Holdings Raised by Sompo Japan Nipponkoa Asset Management CO. LTD.” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/11/10/u-s-bancorp-usb-holdings-raised-by-sompo-japan-nipponkoa-asset-management-co-ltd.html.

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.

Recommended Story: What is a Call Option?

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply