Texas Permanent School Fund Corp increased its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 321,643 shares of the financial services provider’s stock after buying an additional 29,196 shares during the period. Texas Permanent School Fund Corp’s holdings in U.S. Bancorp were worth $10,634,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vestcor Inc boosted its holdings in U.S. Bancorp by 0.7% in the 4th quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 230 shares during the period. Acadian Asset Management LLC raised its position in shares of U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after buying an additional 276 shares in the last quarter. Gamco Investors INC. ET AL raised its position in U.S. Bancorp by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 280 shares during the period. Investors Research Corp raised its position in U.S. Bancorp by 0.9% in the 2nd quarter. Investors Research Corp now owns 35,268 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 300 shares during the period. Finally, Perkins Capital Management Inc. grew its holdings in U.S. Bancorp by 2.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 300 shares during the last quarter. 75.40% of the stock is owned by institutional investors.
U.S. Bancorp Stock Performance
Shares of USB traded down $0.16 during trading hours on Friday, hitting $40.21. The stock had a trading volume of 3,175,136 shares, compared to its average volume of 9,612,475. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average price of $42.17 and a 200 day moving average price of $37.78. The firm has a market capitalization of $62.61 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 2.03 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.29.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.
U.S. Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 4.87%. U.S. Bancorp’s dividend payout ratio is currently 59.76%.
Insiders Place Their Bets
In other news, insider Shailesh M. Kotwal sold 2,046 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares of the company’s stock, valued at $4,547,205.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Shailesh M. Kotwal sold 2,046 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares of the company’s stock, valued at $4,547,205.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 22,756 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,496,389.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,439 shares of company stock worth $2,865,224. Company insiders own 0.24% of the company’s stock.
Analysts Set New Price Targets
USB has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Finally, Morgan Stanley increased their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.35.
Check Out Our Latest Analysis on USB
U.S. Bancorp Company 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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