Public Employees Retirement Association of Colorado Sells 5,875 Shares of U.S. Bancorp (NYSE:USB)

Public Employees Retirement Association of Colorado cut its position in U.S. Bancorp (NYSE:USB) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,432 shares of the financial services provider’s stock after selling 5,875 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in U.S. Bancorp were worth $9,898,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. ADV bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $5,440,000. Spinnaker Trust bought a new position in U.S. Bancorp during the fourth quarter worth about $220,000. Morningstar Investment Management LLC increased its position in U.S. Bancorp by 760.8% during the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after buying an additional 74,094 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $4,073,000. Finally, abrdn plc lifted its position in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after buying an additional 272,976 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays decreased their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup raised their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. UBS Group upped their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price target (down 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $47.76.

U.S. Bancorp Stock Performance

USB opened at $45.37 on Tuesday. The firm has a market cap of $70.80 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 4.39 and a beta of 1.04. The business’s fifty day moving average is $40.82 and its 200-day moving average is $41.53. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.32%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insiders Place Their Bets

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

U.S. Bancorp Company Profile

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.