Sumitomo Life Insurance Co. Has $874,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Sumitomo Life Insurance Co. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,270 shares of the financial services provider’s stock after selling 829 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in U.S. Bancorp were worth $874,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC grew its position in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. Frazier Financial Advisors LLC grew its holdings in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares in the last quarter. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Albion Financial Group UT raised its holdings in U.S. Bancorp by 92.8% during the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 335 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $33,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB opened at $47.65 on Thursday. The company has a market cap of $74.34 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.81 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day moving average price of $49.93 and a 200-day moving average price of $47.30.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USB. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Evercore ISI increased their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.