Public Employees Retirement System of Ohio Purchases New Holdings in U.S. Bancorp $USB

Public Employees Retirement System of Ohio acquired a new position in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 612,952 shares of the financial services provider’s stock, valued at approximately $37,022,000.

A number of other hedge funds have also recently bought and sold shares of USB. State Street Corp lifted its stake in shares of U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after acquiring an additional 522,368 shares during the period. Mufg Bank LTD. acquired a new stake in U.S. Bancorp in the second quarter worth about $2,680,199,000. Geode Capital Management LLC increased its position in U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the period. Norges Bank bought a new stake in U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Finally, Auto Owners Insurance Co raised its holdings in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on USB shares. CLSA set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $75.00 in a report on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of U.S. Bancorp in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $67.06.

Insiders Place Their Bets

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $62.50 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $97.38 billion, a P/E ratio of 12.48, a PEG ratio of 1.02 and a beta of 0.96. The business has a 50-day moving average of $62.84 and a 200-day moving average of $57.75. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the company posted $1.11 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

U.S. Bancorp Company 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.