AIA Group Ltd Has $3.18 Million Position in U.S. Bancorp $USB

AIA Group Ltd increased its position in shares of U.S. Bancorp (NYSE:USB) by 176.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,865 shares of the financial services provider’s stock after buying an additional 42,023 shares during the quarter. AIA Group Ltd’s holdings in U.S. Bancorp were worth $3,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after purchasing an additional 1,279,104 shares during the last quarter. State Street Corp increased its stake in U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after buying an additional 648,943 shares during the last quarter. Norges Bank bought a new stake in U.S. Bancorp during the 2nd quarter worth about $971,285,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in U.S. Bancorp by 7.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after buying an additional 1,189,525 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of U.S. Bancorp by 1.1% during the 3rd quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock worth $794,486,000 after buying an additional 172,645 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen raised their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Evercore upped their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Finally, Oppenheimer boosted their price target on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.02.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $51.25 on Friday. The firm has a market cap of $79.55 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The business’s 50 day moving average is $55.52 and its 200-day moving average is $51.66. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s payout ratio is presently 45.02%.

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.