Maryland State Retirement & Pension System Raises Stock Position in U.S. Bancorp (NYSE:USB)

Maryland State Retirement & Pension System boosted its position in shares of U.S. Bancorp (NYSE:USB) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,250 shares of the financial services provider’s stock after acquiring an additional 4,194 shares during the period. Maryland State Retirement & Pension System’s holdings in U.S. Bancorp were worth $5,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scotia Capital Inc. grew its stake in U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares in the last quarter. Spinnaker Trust purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $220,000. Tealwood Asset Management Inc. lifted its holdings in shares of U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after acquiring an additional 15,665 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $4,073,000. Finally, abrdn plc lifted its holdings in shares of U.S. Bancorp by 71.9% in the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after acquiring an additional 272,976 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on USB. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Evercore ISI upped their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Trading Up 1.0 %

NYSE:USB traded up $0.41 during trading hours on Monday, hitting $41.82. The company had a trading volume of 6,429,589 shares, compared to its average volume of 8,545,029. The company has a market cap of $65.26 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1 year low of $28.53 and a 1 year high of $45.85. The company has a 50-day moving average of $42.34 and a 200 day moving average of $40.56.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $1.16 EPS. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

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.