Taikang Asset Management Hong Kong Co Ltd raised its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 289,357 shares of the financial services provider’s stock after buying an additional 40,575 shares during the period. U.S. Bancorp comprises approximately 1.5% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 18th biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in U.S. Bancorp were worth $15,440,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in USB. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth approximately $25,000. Financial Life Planners acquired a new position in U.S. Bancorp in the 3rd quarter worth approximately $25,000. Rossby Financial LCC boosted its stake in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the period. JPL Wealth Management LLC acquired a new position in U.S. Bancorp in the 3rd quarter worth approximately $28,000. Finally, Westfuller Advisors LLC boosted its stake in U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 215 shares during the period. 77.60% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.
U.S. Bancorp Trading Up 1.9%
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. On average, equities analysts expect that U.S. Bancorp will post 5.07 EPS for the current fiscal year.
U.S. Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on USB. Jefferies Financial Group reaffirmed a “hold” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Barclays raised their price objective on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Truist Financial decreased their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.
View Our Latest Stock Report on USB
U.S. Bancorp Company Profile
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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