U.S. Bancorp (NYSE:USB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in U.S. Bancorp (NYSE:USB) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,525 shares of the financial services provider’s stock after selling 1,060 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in U.S. Bancorp were worth $5,521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after acquiring an additional 502,776 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after purchasing an additional 2,598,163 shares during the period. Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $827,370,000. Van ECK Associates Corp grew its holdings in shares of U.S. Bancorp by 3.0% during the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after purchasing an additional 265,734 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of U.S. Bancorp by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock worth $398,800,000 after purchasing an additional 23,826 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 2.6 %

Shares of U.S. Bancorp stock traded down $1.13 on Friday, reaching $42.35. 8,485,453 shares of the company were exchanged, compared to its average volume of 9,838,976. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88. The company has a market cap of $66.09 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50 day moving average price is $41.10 and its 200-day moving average price is $41.59.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. Evercore ISI increased their price target on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. UBS Group increased their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley increased their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Finally, Wells Fargo & Company raised their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $48.23.

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.