California Public Employees Retirement System Lowers Stock Position in U.S. Bancorp (NYSE:USB)

California Public Employees Retirement System lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,887,268 shares of the financial services provider's stock after selling 130,352 shares during the period. California Public Employees Retirement System owned 0.19% of U.S. Bancorp worth $138,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Winch Advisory Services LLC lifted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock worth $26,000 after purchasing an additional 490 shares during the period. J.Safra Asset Management Corp bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates boosted its holdings in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares of the company's stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several analysts recently weighed in on USB shares. Wells Fargo & Company reduced their price objective on U.S. Bancorp from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Piper Sandler upgraded shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a report on Thursday. Raymond James raised U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Finally, Citigroup lowered their target price on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Moderate Buy" and an average price target of $53.02.

U.S. Bancorp Trading Down 8.7 %

Shares of U.S. Bancorp stock traded down $3.74 on Thursday, reaching $39.27. 10,233,308 shares of the company's stock were exchanged, compared to its average volume of 8,606,670. The company has a market capitalization of $61.18 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm's 50-day moving average is $45.36 and its two-hundred day moving average is $47.52.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company earned $0.99 EPS. U.S. Bancorp's quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

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.