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

California Public Employees Retirement System cut its position in shares of U.S. Bancorp (NYSE:USB) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,847,252 shares of the financial services provider’s stock after selling 70,199 shares during the quarter. California Public Employees Retirement System owned 0.18% of U.S. Bancorp worth $123,229,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Vanguard Group Inc. increased its position in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Mufg Bank LTD. increased its position in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares in the last quarter. FMR LLC increased its position in U.S. Bancorp by 1.8% during the third quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock worth $1,238,765,000 after buying an additional 674,583 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in U.S. Bancorp by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,120,947 shares of the financial services provider’s stock worth $1,028,859,000 after buying an additional 1,610,004 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its position in U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after buying an additional 17,066,479 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction 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 $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction 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 $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on USB shares. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Evercore ISI boosted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Barclays lowered their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Trading Down 0.2 %

NYSE:USB opened at $40.96 on Wednesday. The business’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $40.03. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The stock has a market cap of $63.82 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

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.