Nomura Asset Management Co. Ltd. raised its stake in U.S. Bancorp (NYSE:USB) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,835 shares of the financial services provider’s stock after buying an additional 5,713 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $13,919,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. WESPAC Advisors SoCal LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $27,000. Executive Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $27,000. Trustcore Financial Services LLC purchased a new position in shares of U.S. Bancorp in the first quarter valued at $28,000. Gantzert Investment Co. LLC ADV purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $32,000. Finally, ERTS Wealth Advisors LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth about $36,000. 74.62% of the stock is currently owned by institutional investors.
Shares of NYSE:USB traded down $0.06 during mid-day trading on Wednesday, hitting $51.98. 4,601,407 shares of the company traded hands, compared to its average volume of 6,098,258. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.84. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $55.56. The stock’s 50 day moving average price is $51.83. The firm has a market capitalization of $83.13 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.74 and a beta of 1.08.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.00. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the business earned $0.96 EPS. U.S. Bancorp’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that U.S. Bancorp will post 4.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.85%. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
A number of analysts recently commented on the company. Oppenheimer lifted their price objective on U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $58.33.
In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total transaction of $248,110.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $50.61, for a total value of $1,012,200.00. Following the transaction, the insider now owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. Insiders sold a total of 37,233 shares of company stock valued at $1,907,734 over the last quarter. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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