Mirae Asset Global Investments Co. Ltd. Increases Stock Position in U.S. Bancorp (NYSE:USB)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of U.S. Bancorp (NYSE:USB) by 21.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,306,908 shares of the financial services provider’s stock after buying an additional 229,799 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of U.S. Bancorp worth $62,398,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC grew its stake in shares of U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after buying an additional 56,990 shares during the period. International Assets Investment Management LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth $1,018,000. M&T Bank Corp boosted its position in U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. boosted its position in U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the period. Finally, Keystone Financial Planning Inc. boosted its position in U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after purchasing an additional 16,552 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB opened at $47.48 on Wednesday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market cap of $74.07 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company’s 50-day moving average price is $49.58 and its 200 day moving average price is $47.40.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate 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 prior year, the firm earned $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Wall Street Analyst Weigh In

USB has been the subject of a number of research reports. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Thursday, December 19th. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $54.21.

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.