Meiji Yasuda Asset Management Co Ltd. Has $9.70 Million Stock Position in U.S. Bancorp (NYSE:USB)

Meiji Yasuda Asset Management Co Ltd. cut its position in shares of U.S. Bancorp (NYSE:USB) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,834 shares of the financial services provider’s stock after selling 17,625 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in U.S. Bancorp were worth $9,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. J.Safra Asset Management Corp purchased a new position in U.S. Bancorp during the 4th quarter valued at about $26,000. Winch Advisory Services LLC boosted its holdings in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 2.3 %

Shares of USB opened at $43.81 on Tuesday. The stock’s 50-day moving average price is $46.21 and its 200 day moving average price is $47.63. 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 capitalization of $68.25 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 1.73 and a beta of 1.02. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that U.S. Bancorp will post 4.38 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 Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Monday, January 13th. Compass Point boosted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Bank of America reduced their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.48.

Insiders Place Their Bets

In other news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now 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. Over the last three months, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.