Norinchukin Bank The Increases Stock Position in U.S. Bancorp (NYSE:USB)

Norinchukin Bank The raised its position in shares of U.S. Bancorp (NYSE:USB) by 8.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 68,626 shares of the financial services provider’s stock after buying an additional 5,199 shares during the quarter. Norinchukin Bank The’s holdings in U.S. Bancorp were worth $3,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after buying an additional 1,079,056 shares during the period. FMR LLC boosted its position in U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the period. Finally, Amundi grew its stake in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after buying an additional 1,341,407 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB stock opened at $38.21 on Friday. The company has a market capitalization of $59.53 billion, a P/E ratio of 10.08, a PEG ratio of 1.73 and a beta of 0.91. 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 company has a 50-day simple moving average of $42.55 and a 200 day simple moving average of $46.79. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

Insiders Place Their Bets

In other news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’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 transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on USB. Keefe, Bruyette & Woods lowered their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a research report on Thursday. Citigroup dropped their target price on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley dropped their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.66.

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.