U.S. Bancorp $USB Stock Position Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in shares of U.S. Bancorp (NYSE:USB) by 36.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 483,692 shares of the financial services provider’s stock after buying an additional 128,491 shares during the period. Teacher Retirement System of Texas’ holdings in U.S. Bancorp were worth $21,887,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Curbstone Financial Management Corp boosted its position in shares of U.S. Bancorp by 0.6% in the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 222 shares during the period. Mechanics Financial Corp raised its stake in shares of U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 240 shares in the last quarter. Northern Financial Advisors Inc raised its stake in shares of U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 241 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE raised its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares in the last quarter. Finally, Gallagher Capital Advisors LLC raised its stake in shares of U.S. Bancorp by 1.5% in the 2nd quarter. Gallagher Capital Advisors LLC now owns 16,795 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.1%

Shares of U.S. Bancorp stock opened at $47.28 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $73.57 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. The business has a 50-day moving average of $48.15 and a two-hundred day moving average of $45.36. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

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

U.S. Bancorp Increases Dividend

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

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research analyst reports. TD Cowen raised their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. UBS Group boosted their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Citigroup lifted their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.