Sumitomo Mitsui Trust Holdings Inc. Sells 287,921 Shares of U.S. Bancorp (NYSE:USB)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 7.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,398,197 shares of the financial services provider’s stock after selling 287,921 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in U.S. Bancorp were worth $134,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp in the 1st quarter valued at $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the 1st quarter valued at $31,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. Naples Money Management LLC bought a new position in U.S. Bancorp in the 4th quarter valued at $30,000. Finally, Crewe Advisors LLC acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $39,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of several research reports. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. Jefferies Financial Group lowered their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI lifted their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group lifted their target price on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, DA Davidson lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.23.

Insider Activity

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

USB stock traded up $0.38 during midday trading on Friday, hitting $43.19. 5,369,520 shares of the company’s stock were exchanged, compared to its average volume of 8,505,938. The stock’s fifty day moving average price is $41.59 and its 200-day moving average price is $41.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $67.40 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.88.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. Research analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.54%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.