Public Employees Retirement System of Ohio Decreases Position in U.S. Bancorp (USB)
Public Employees Retirement System of Ohio decreased its position in shares of U.S. Bancorp (NYSE:USB) by 3.5% in the second quarter, HoldingsChannel.com reports. The firm owned 1,059,761 shares of the financial services provider’s stock after selling 38,245 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in U.S. Bancorp were worth $53,009,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in USB. Clearwater Capital Advisors LLC acquired a new position in U.S. Bancorp in the first quarter valued at approximately $100,000. Horan Capital Management acquired a new position in U.S. Bancorp in the second quarter valued at approximately $109,000. Well Done LLC acquired a new position in U.S. Bancorp in the first quarter valued at approximately $117,000. Integrated Investment Consultants LLC acquired a new position in U.S. Bancorp in the second quarter valued at approximately $135,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in U.S. Bancorp in the first quarter valued at approximately $141,000. 74.25% of the stock is owned by hedge funds and other institutional investors.
Shares of USB opened at $54.45 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a one year low of $48.49 and a one year high of $58.50. The company has a market cap of $88.20 billion, a P/E ratio of 15.92, a PEG ratio of 1.78 and a beta of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.72%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s payout ratio is presently 35.09%.
A number of research analysts have issued reports on USB shares. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.42.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the business’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the sale, the insider now directly owns 98,371 shares in the company, valued at $5,086,764.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is currently owned by insiders.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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