Mufg Securities Americas Inc. Acquires New Holdings in U.S. Bancorp $USB

Mufg Securities Americas Inc. acquired a new position in U.S. Bancorp (NYSE:USB) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 34,529 shares of the financial services provider’s stock, valued at approximately $1,562,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after acquiring an additional 4,442,623 shares during the period. Nuveen LLC bought a new position in U.S. Bancorp during the 1st quarter valued at $138,183,000. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. increased its position in shares of U.S. Bancorp by 17.4% during the 1st quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after purchasing an additional 1,493,318 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of U.S. Bancorp by 192.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after buying an additional 1,311,746 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $47.73 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $74.19 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.25 and a beta of 1.10. The business’s 50-day moving average is $47.56 and its 200-day moving average is $46.29. 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 posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company posted $1.03 EPS. U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Activity

In related news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on USB. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Bank of America lifted their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Truist Financial raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell 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 $54.45.

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.