U.S. Bancorp (NYSE:USB) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in U.S. Bancorp (NYSE:USB) by 6.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,127,472 shares of the financial services provider’s stock after selling 146,425 shares during the period. New York State Common Retirement Fund’s holdings in U.S. Bancorp were worth $92,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $27,000. Legacy Financial Group LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth approximately $30,000. Finally, Naples Money Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on USB shares. Morgan Stanley increased their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Evercore ISI increased their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wells Fargo & Company decreased their price objective on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Stock Up 0.2 %

Shares of NYSE USB traded up $0.08 on Tuesday, hitting $41.13. The company had a trading volume of 2,744,345 shares, compared to its average volume of 8,756,881. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The business has a 50 day moving average of $42.32 and a two-hundred day moving average of $39.96. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $64.09 billion, a P/E ratio of 13.59, a PEG ratio of 2.10 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 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 firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.77%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

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.