State of New Jersey Common Pension Fund D Increases Stock Holdings in U.S. Bancorp $USB

State of New Jersey Common Pension Fund D increased its stake in U.S. Bancorp (NYSE:USB) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 523,423 shares of the financial services provider’s stock after acquiring an additional 15,822 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in U.S. Bancorp were worth $25,297,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $25,000. Guerra Advisors Inc acquired a new stake in U.S. Bancorp in the 3rd quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp during the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the second quarter valued at approximately $27,000. Finally, Pineridge Advisors LLC lifted its position 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 valued at $29,000 after acquiring an additional 522 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on USB. JPMorgan Chase & Co. boosted their price target on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Barclays raised their price target on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.79.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

Shares of USB opened at $57.66 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The firm has a 50-day moving average price of $55.43 and a 200 day moving average price of $50.37. The firm has a market capitalization of $89.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. U.S. Bancorp’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $1.07 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

U.S. Bancorp Company Profile

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.