U.S. Bancorp $USB Stock Position Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its stake in shares of U.S. Bancorp (NYSE:USB) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,631 shares of the financial services provider’s stock after purchasing an additional 10,942 shares during the period. Maryland State Retirement & Pension System’s holdings in U.S. Bancorp were worth $5,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp in the second quarter worth about $2,680,199,000. Bank of New York Mellon Corp purchased a new position in U.S. Bancorp during the 2nd quarter valued at approximately $536,457,000. First Trust Advisors LP increased its stake in U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. KBC Group NV increased its stake in U.S. Bancorp by 259.0% in the 1st quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock worth $98,217,000 after acquiring an additional 1,362,416 shares during the last quarter. Finally, Amundi increased its stake in U.S. Bancorp by 25.2% in the 1st quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock worth $336,538,000 after acquiring an additional 1,301,547 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

Shares of NYSE USB opened at $60.53 on Friday. The business’s 50 day moving average is $59.55 and its two-hundred day moving average is $58.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The stock has a market capitalization of $94.32 billion, a P/E ratio of 11.80, a PEG ratio of 1.16 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion for 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. As a group, research analysts expect that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders 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 represents a $2.16 annualized dividend and a dividend yield of 3.6%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $64.00 target price (down from $71.00) on shares of U.S. Bancorp in a research report on Thursday, October 15th. Citigroup reduced their price target on shares of U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada decreased their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Finally, Raymond James Financial lowered their price objective on shares of U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.