Sumitomo Mitsui Trust Group Inc. Has $192.88 Million Stock Holdings in U.S. Bancorp $USB

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,990,872 shares of the financial services provider’s stock after purchasing an additional 42,730 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of U.S. Bancorp worth $192,879,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in USB. First Horizon Corp acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $371,000. Pinnacle Bancorp Inc. increased its stake in U.S. Bancorp by 3.9% in the third quarter. Pinnacle Bancorp Inc. now owns 13,985 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 523 shares in the last quarter. MGO One Seven LLC boosted its position in shares of U.S. Bancorp by 10.7% during the 3rd quarter. MGO One Seven LLC now owns 75,834 shares of the financial services provider’s stock worth $3,665,000 after purchasing an additional 7,312 shares in the last quarter. Tema Etfs LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $1,288,000. Finally, Bayforest Capital Ltd increased its position in U.S. Bancorp by 10.8% in the 3rd quarter. Bayforest Capital Ltd now owns 11,205 shares of the financial services provider’s stock valued at $542,000 after buying an additional 1,090 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on USB shares. Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Evercore ISI set a $60.00 price objective on shares of U.S. Bancorp in a report on Tuesday, January 6th. HSBC restated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Wednesday, January 7th. Finally, Truist Financial boosted their price objective on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.30.

U.S. Bancorp Stock Performance

Shares of USB opened at $54.39 on Tuesday. The firm has a market cap of $84.55 billion, a PE ratio of 12.45, a PEG ratio of 0.96 and a beta of 1.07. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $56.19. 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 stock’s fifty day moving average price is $51.23 and its two-hundred day moving average price is $48.63.

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, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 47.60%.

Insiders Place Their Bets

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction 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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by corporate insiders.

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.