U.S. Bancorp (NYSE:USB) Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,406,487 shares of the financial services provider’s stock after selling 23,416 shares during the period. New York State Teachers Retirement System owned about 0.09% of U.S. Bancorp worth $64,319,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the second quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the second quarter worth about $30,000. Eagle Bay Advisors LLC lifted its holdings in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. LRI Investments LLC bought a new position in U.S. Bancorp in the first quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $33,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Evercore ISI raised their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.87.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.0 %

Shares of NYSE:USB opened at $48.69 on Thursday. The stock has a market capitalization of $75.98 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a 1-year low of $30.88 and a 1-year high of $50.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average price of $46.10 and a 200 day moving average price of $42.97.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.11%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.