Tokio Marine Asset Management Co. Ltd. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 293,881 shares of the financial services provider’s stock after buying an additional 6,521 shares during the period. U.S. Bancorp makes up approximately 1.2% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 20th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $11,852,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock valued at $415,828,000 after buying an additional 5,326,919 shares in the last quarter. Bank of Montreal Can bought a new stake in U.S. Bancorp during the second quarter valued at $86,393,000. Franklin Resources Inc. raised its stake in U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock valued at $722,733,000 after buying an additional 1,324,977 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in U.S. Bancorp during the first quarter valued at $51,818,000. Finally, Primecap Management Co. CA raised its stake in U.S. Bancorp by 23.9% in the first quarter. Primecap Management Co. CA now owns 4,819,325 shares of the financial services provider’s stock valued at $195,616,000 after buying an additional 929,325 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.77% during trading on Thursday, reaching $42.48. The company’s stock had a trading volume of 7,683,871 shares. The company has a market cap of $72.71 billion, a P/E ratio of 13.32 and a beta of 0.72. The stock’s 50-day moving average is $43.28 and its 200 day moving average is $41.93. U.S. Bancorp has a 12 month low of $37.07 and a 12 month high of $44.58.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The firm had revenue of $5.45 billion for the quarter. During the same quarter in the prior year, the business earned $0.80 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio (DPR) is currently 31.88%.
USB has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price objective on U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $47.00 target price (up from $46.00) on shares of U.S. Bancorp in a report on Tuesday, July 19th. Credit Suisse Group AG reissued a “hold” rating on shares of U.S. Bancorp in a report on Tuesday, July 12th. Finally, Zacks Investment Research downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. U.S. Bancorp has an average rating of “Hold” and an average target price of $45.17.
In other news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now owns 178,422 shares in the company, valued at $7,493,724. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total transaction of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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