Sumitomo Mitsui Trust Holdings Inc. Increases Position in U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,686,118 shares of the financial services provider’s stock after purchasing an additional 30,922 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of U.S. Bancorp worth $164,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in USB. CGC Financial Services LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $27,000. Naples Money Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 14th. Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Barclays dropped their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Price Performance

USB stock traded up $0.25 during trading on Wednesday, hitting $40.22. The company had a trading volume of 548,411 shares, compared to its average volume of 8,351,501. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The firm has a market capitalization of $62.76 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 3.82 and a beta of 1.04. The business has a 50 day moving average of $40.32 and a 200 day moving average of $41.65. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.49 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.87%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

About U.S. Bancorp

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.