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

New York State Teachers Retirement System decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,369,786 shares of the financial services provider’s stock after selling 36,701 shares during the period. New York State Teachers Retirement System owned about 0.09% of U.S. Bancorp worth $65,517,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC grew its holdings in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after acquiring an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after acquiring an additional 599,852 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in U.S. Bancorp by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on USB shares. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Thursday, December 19th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 0.3 %

USB stock opened at $47.32 on Friday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $48.80 and its 200-day moving average is $47.50. The firm has a market cap of $73.83 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.