New York State Teachers Retirement System Sells 39,705 Shares of U.S. Bancorp $USB

New York State Teachers Retirement System trimmed its position in U.S. Bancorp (NYSE:USB) by 3.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,302,536 shares of the financial services provider’s stock after selling 39,705 shares during the quarter. New York State Teachers Retirement System’s holdings in U.S. Bancorp were worth $67,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. Financial Life Planners bought a new position in U.S. Bancorp during the 3rd quarter worth about $25,000. Rossby Financial LCC grew its holdings in U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 212 shares in the last quarter. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $28,000. Finally, Westfuller Advisors LLC raised its holdings in shares of U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on USB shares. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 28th. Finally, Barclays boosted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.57.

U.S. Bancorp Trading Down 0.5%

NYSE USB opened at $61.67 on Friday. U.S. Bancorp has a 52 week low of $43.46 and a 52 week high of $62.38. The company has a 50 day moving average price of $56.47 and a 200 day moving average price of $55.46. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market cap of $95.67 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the firm earned $1.03 earnings per share. U.S. Bancorp’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.