38,166 U.S. Bancorp $USB Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of U.S. Bancorp (NYSE:USB) by 12.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 341,263 shares of the financial services provider’s stock after buying an additional 38,166 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in U.S. Bancorp were worth $19,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in USB. Knights of Columbus Asset Advisors LLC grew its stake in U.S. Bancorp by 54.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 95,054 shares of the financial services provider’s stock valued at $5,490,000 after acquiring an additional 33,450 shares during the period. AMG National Trust Bank increased its holdings in shares of U.S. Bancorp by 2.0% during the third quarter. AMG National Trust Bank now owns 103,426 shares of the financial services provider’s stock valued at $5,974,000 after acquiring an additional 2,035 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 13.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 19,669 shares of the financial services provider’s stock valued at $1,136,000 after acquiring an additional 2,259 shares in the last quarter. Keybank National Association OH raised its position in shares of U.S. Bancorp by 5.6% during the third quarter. Keybank National Association OH now owns 106,446 shares of the financial services provider’s stock worth $6,148,000 after purchasing an additional 5,687 shares during the period. Finally, Csenge Advisory Group raised its position in shares of U.S. Bancorp by 14.4% during the third quarter. Csenge Advisory Group now owns 34,085 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 4,302 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $60.72 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50-day simple moving average of $59.60 and a two-hundred day simple moving average of $58.23. The company has a market capitalization of $94.61 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. Research analysts expect that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s payout ratio is presently 42.11%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on USB shares. Barclays increased their target price on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Robert W. Baird boosted their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on shares of U.S. Bancorp from $65.00 to $65.50 and gave the company a “neutral” rating in a research note on Friday, October 30th. TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $64.00 price objective (down from $71.00) on shares of U.S. Bancorp in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.65.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.