Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $17.29 Million Stock Holdings in U.S. Bancorp $USB

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in U.S. Bancorp (NYSE:USB) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 382,115 shares of the financial services provider’s stock after purchasing an additional 25,363 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in U.S. Bancorp were worth $17,291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in U.S. Bancorp during the second quarter worth about $25,000. Saudi Central Bank bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $26,000. Activest Wealth Management increased its holdings in U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 728 shares in the last quarter. Groupe la Francaise bought a new position in U.S. Bancorp in the 1st quarter valued at $41,000. Finally, Meeder Asset Management Inc. raised its position in U.S. Bancorp by 118.4% in the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 535 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $47.09 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The stock has a market cap of $73.19 billion, a PE ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $47.83 and its two-hundred day moving average price is $46.10.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on USB shares. Wells Fargo & Company increased their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. TD Cowen raised their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp 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.