California State Teachers Retirement System Trims Stake in U.S. Bancorp $USB

California State Teachers Retirement System cut its stake in U.S. Bancorp (NYSE:USB) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,380,108 shares of the financial services provider’s stock after selling 65,315 shares during the period. California State Teachers Retirement System owned 0.15% of U.S. Bancorp worth $123,789,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp in the first quarter worth $28,000. Rossby Financial LCC grew its stake in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the period. Finally, NFSG Corp bought a new position in U.S. Bancorp in the first quarter worth $31,000. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays raised their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Truist Financial upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

Insider Activity

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Trading Down 2.4%

U.S. Bancorp stock opened at $62.86 on Thursday. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a market capitalization of $97.50 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. The business’s fifty day simple moving average is $59.49 and its two-hundred day simple moving average is $56.60. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the company earned $1.11 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

U.S. Bancorp 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.