Strs Ohio Sells 45,989 Shares of U.S. Bancorp $USB

Strs Ohio reduced its position in U.S. Bancorp (NYSE:USB) by 7.6% in the third quarter, HoldingsChannel.com reports. The firm owned 561,183 shares of the financial services provider’s stock after selling 45,989 shares during the period. Strs Ohio’s holdings in U.S. Bancorp were worth $27,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. IMG Wealth Management Inc. bought a new position in U.S. Bancorp in the 2nd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in U.S. Bancorp during the third quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new position in shares of U.S. Bancorp in the second quarter valued at about $27,000. Pineridge Advisors LLC boosted its stake in shares of U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of U.S. Bancorp during the third quarter worth about $31,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, October 23rd. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Evercore ISI set a $60.00 price target on shares of U.S. Bancorp in a research note on Tuesday, January 6th. The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Finally, Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $58.19.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $55.50 on Friday. The firm has a fifty day simple moving average of $52.57 and a two-hundred day simple moving average of $49.09. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.70. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $86.27 billion, a P/E ratio of 12.01, a PEG ratio of 1.01 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the prior year, the company earned $1.07 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.