Rakuten Investment Management Inc. Acquires 197,233 Shares of U.S. Bancorp $USB

Rakuten Investment Management Inc. boosted its holdings in U.S. Bancorp (NYSE:USB) by 2,498.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,128 shares of the financial services provider’s stock after acquiring an additional 197,233 shares during the quarter. Rakuten Investment Management Inc.’s holdings in U.S. Bancorp were worth $11,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Beacon Financial Advisory LLC bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $1,177,000. L2 Asset Management LLC lifted its position in U.S. Bancorp by 7.1% in the 4th quarter. L2 Asset Management LLC now owns 8,265 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 546 shares in the last quarter. 71 West Capital Partners purchased a new stake in U.S. Bancorp during the 4th quarter valued at $353,000. OMERS ADMINISTRATION Corp raised its stake in U.S. Bancorp by 71.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 95,132 shares of the financial services provider’s stock valued at $5,076,000 after buying an additional 39,632 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in U.S. Bancorp by 22.6% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,900 shares of the financial services provider’s stock valued at $101,000 after buying an additional 350 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction 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 owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction 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 completion of the sale, the insider 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Up 1.9%

NYSE:USB opened at $58.87 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm 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 has a one year low of $42.55 and a one year high of $61.19. The business has a fifty day moving average price of $55.46 and a 200-day moving average price of $54.71.

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

U.S. Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on USB. DA Davidson reiterated a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Wall Street Zen lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Truist Financial decreased their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $61.29.

About U.S. Bancorp

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.