Tokio Marine Asset Management Co. Ltd. Lowers Position in U.S. Bancorp (USB)
Tokio Marine Asset Management Co. Ltd. lowered its position in U.S. Bancorp (NYSE:USB) by 38.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,657 shares of the financial services provider’s stock after selling 21,628 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $1,857,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Meeder Asset Management Inc. acquired a new stake in U.S. Bancorp during the 4th quarter valued at $106,000. Horan Capital Advisors LLC. purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth $112,000. Phocas Financial Corp. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $109,000. Cerebellum GP LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $123,000. Finally, San Francisco Sentry Investment Group CA raised its position in shares of U.S. Bancorp by 1,211.9% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 3,306 shares of the financial services provider’s stock worth $177,000 after buying an additional 3,054 shares during the period. Institutional investors and hedge funds own 72.80% of the company’s stock.
Several brokerages recently weighed in on USB. Vining Sparks reaffirmed a “hold” rating and issued a $61.00 target price on shares of U.S. Bancorp in a research report on Thursday, January 25th. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley increased their target price on U.S. Bancorp from $60.00 to $61.00 and gave the stock an “underweight” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 target price on the stock. in a research report on Wednesday, January 31st. Finally, Nomura raised their price objective on U.S. Bancorp from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.13.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. sell-side analysts predict that U.S. Bancorp will post 4.03 EPS for the current fiscal year.
U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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