U.S. Bancorp (NYSE:USB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in shares of U.S. Bancorp (NYSE:USB) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,778 shares of the financial services provider’s stock after selling 7,148 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in U.S. Bancorp were worth $5,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC raised its holdings in shares of U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares in the last quarter. Hilltop Holdings Inc. grew its position in U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after buying an additional 45,560 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of U.S. Bancorp by 544.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares in the last quarter. Summit Financial Wealth Advisors LLC acquired a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $4,505,000. Finally, M&T Bank Corp boosted its stake in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $51.10 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock’s 50-day moving average is $49.52 and its two-hundred day moving average is $45.07. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $79.72 billion, a P/E ratio of 15.63, a PEG ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. Analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a share buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent analyst reports. Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Barclays raised their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $53.27.

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.