U.S. Bancorp (NYSE:USB) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in U.S. Bancorp (NYSE:USB) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,262,736 shares of the financial services provider’s stock after selling 72,083 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.08% of U.S. Bancorp worth $60,397,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $2,430,000. Providence Capital Advisors LLC raised its holdings in shares of U.S. Bancorp by 142.4% during the fourth quarter. Providence Capital Advisors LLC now owns 196,214 shares of the financial services provider’s stock valued at $9,385,000 after acquiring an additional 115,256 shares during the last quarter. Norges Bank purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Caisse Des Depots ET Consignations acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $1,014,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of U.S. Bancorp by 2.8% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 71,472 shares of the financial services provider’s stock worth $3,419,000 after purchasing an additional 1,967 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lowered their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Citigroup lowered their target price 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. Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial began coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $53.21.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $42.21 on Friday. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50-day moving average of $45.74 and a 200 day moving average of $47.55. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. 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 three months. 0.23% of the stock is owned by corporate insiders.

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.