U.S. Bancorp (NYSE:USB) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in U.S. Bancorp (NYSE:USB) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,887,268 shares of the financial services provider’s stock after selling 130,352 shares during the quarter. California Public Employees Retirement System owned 0.19% of U.S. Bancorp worth $138,098,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in U.S. Bancorp by 26.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 325,838 shares of the financial services provider’s stock worth $14,900,000 after buying an additional 68,852 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of U.S. Bancorp by 0.9% during the third quarter. Captrust Financial Advisors now owns 231,910 shares of the financial services provider’s stock worth $10,605,000 after acquiring an additional 2,089 shares during the period. Encompass More Asset Management acquired a new stake in U.S. Bancorp in the third quarter valued at about $230,000. Tradition Wealth Management LLC boosted its holdings in U.S. Bancorp by 1.5% in the 3rd quarter. Tradition Wealth Management LLC now owns 57,235 shares of the financial services provider’s stock valued at $2,617,000 after purchasing an additional 863 shares in the last quarter. Finally, Morton Community Bank boosted its holdings in U.S. Bancorp by 1.6% in the 3rd quarter. Morton Community Bank now owns 71,830 shares of the financial services provider’s stock valued at $3,285,000 after purchasing an additional 1,140 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Bank of America decreased their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Raymond James upgraded shares of 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. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $53.21.

U.S. Bancorp Price Performance

NYSE:USB opened at $42.21 on Monday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a market cap of $65.77 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company’s 50-day moving average is $45.74 and its two-hundred day moving average is $47.59. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

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

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

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.