New York State Common Retirement Fund Raises Position in U.S. Bancorp (NYSE:USB)

New York State Common Retirement Fund lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,943,456 shares of the financial services provider's stock after buying an additional 14,000 shares during the period. New York State Common Retirement Fund owned about 0.12% of U.S. Bancorp worth $92,956,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. FMR LLC increased its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Franklin Resources Inc. increased its holdings in U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock valued at $374,573,000 after purchasing an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC increased its holdings in U.S. Bancorp by 723.7% in the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider's stock valued at $146,864,000 after purchasing an additional 2,821,642 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider's stock valued at $161,491,000 after purchasing an additional 1,847,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider's stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 2.1 %

NYSE USB traded down $0.96 during trading hours on Friday, hitting $45.80. The company's stock had a trading volume of 4,877,096 shares, compared to its average volume of 9,020,030. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a market capitalization of $71.45 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company's 50-day simple moving average is $48.29 and its two-hundred day simple moving average is $47.61.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.37%. U.S. Bancorp's payout ratio is 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company's stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on USB shares. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a "hold" rating and a $54.00 price target for the company. DA Davidson upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.21.

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.