U.S. Bancorp (NYSE:USB) Stock Position Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,244 shares of the financial services provider’s stock after selling 6,333 shares during the quarter. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $5,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. BOKF NA grew its position in U.S. Bancorp by 29.7% during the first quarter. BOKF NA now owns 229,955 shares of the financial services provider’s stock valued at $10,107,000 after purchasing an additional 52,684 shares in the last quarter. LRI Investments LLC acquired a new position in U.S. Bancorp during the 1st quarter valued at $262,000. Quadrature Capital Ltd acquired a new position in U.S. Bancorp during the 1st quarter valued at $1,353,000. Stonebridge Capital Advisors LLC raised its stake in U.S. Bancorp by 6.1% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 287,433 shares of the financial services provider’s stock valued at $12,848,000 after purchasing an additional 16,492 shares during the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in U.S. Bancorp by 48.2% during the 1st quarter. Axxcess Wealth Management LLC now owns 30,466 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 9,903 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on USB shares. Oppenheimer cut their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. DA Davidson boosted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $47.76.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.37 during mid-day trading on Friday, reaching $45.46. 5,681,656 shares of the company were exchanged, compared to its average volume of 9,558,748. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $45.85. The company has a fifty day moving average of $40.74 and a 200 day moving average of $41.52. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $70.94 billion, a PE ratio of 15.05, a PEG ratio of 4.39 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.31%. U.S. Bancorp’s dividend payout ratio is 64.90%.

About U.S. Bancorp

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.