Rakuten Investment Management Inc. Grows Stock Position in U.S. Bancorp $USB

Rakuten Investment Management Inc. lifted its stake in U.S. Bancorp (NYSE:USB) by 2,498.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,128 shares of the financial services provider’s stock after buying an additional 197,233 shares during the period. Rakuten Investment Management Inc.’s holdings in U.S. Bancorp were worth $11,179,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the period. State Street Corp increased its holdings in U.S. Bancorp by 0.8% during the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the period. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after purchasing an additional 443,646 shares during the period. Norges Bank purchased a new position in U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Finally, Davis Selected Advisers increased its holdings in U.S. Bancorp by 13.4% during the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after purchasing an additional 2,610,197 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.9%

USB stock opened at $58.87 on Wednesday. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The business’s 50 day moving average price is $55.46 and its two-hundred day moving average price is $54.71. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $91.32 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. U.S. Bancorp’s dividend payout ratio is 43.61%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. Stephens began coverage on U.S. Bancorp in a report on Monday. They set an “equal weight” rating and a $63.00 price target on the stock. Truist Financial reduced their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Oppenheimer boosted their price target on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $61.29.

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.