Resona Asset Management Co. Ltd. Purchases 8,470 Shares of U.S. Bancorp $USB

Resona Asset Management Co. Ltd. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,733 shares of the financial services provider’s stock after acquiring an additional 8,470 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $26,768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of U.S. Bancorp during the third quarter valued at about $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the third quarter valued at approximately $28,000. Binnacle Investments Inc raised its holdings in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares during the last quarter. Finally, Rossby Financial LCC raised its holdings in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after buying an additional 212 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research reports. Raymond James Financial began coverage on shares of U.S. Bancorp in a report on Wednesday. They set a “strong-buy” rating and a $72.00 target price on the stock. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of U.S. Bancorp from $57.50 to $65.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, UBS Group increased their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $64.31.

Key Headlines Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Raymond James initiated/resumed coverage on U.S. Bancorp (USB) with a Strong Buy rating and a $72 price target, implying meaningful upside and supporting investor optimism about the bank’s outlook. Street Insider article
• Positive Sentiment: Several reports highlighted that USB’s upcoming earnings are expected to grow, with commentary suggesting the company has the ingredients for a potential earnings beat, which can lift the stock ahead of results. Yahoo Finance article
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a new tool for small businesses to move money faster and more affordably through its app and online banking platform. That could support revenue growth and improve the bank’s competitive position in payments. Yahoo Finance article
• Neutral Sentiment: Multiple articles compared USB with BNY on valuation, which keeps the stock in investors’ value screens but does not by itself change the operating outlook. Zacks article
• Neutral Sentiment: U.S. Bancorp is scheduled to report quarterly earnings Thursday, making the stock more sensitive to pre-earnings positioning and guidance expectations. American Banking News article
• Negative Sentiment: Oppenheimer lowered its price target on U.S. Bancorp (USB), a cautionary signal that may reflect more tempered expectations for near-term upside. Yahoo Finance article

U.S. Bancorp Stock Up 1.3%

Shares of NYSE:USB opened at $61.79 on Friday. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $63.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $57.06 and its 200-day moving average is $55.75. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.11 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.