U.S. Bancorp $USB Stock: Maryland State Retirement & Pension System Grows Position

Maryland State Retirement & Pension System increased its position in U.S. Bancorp (NYSE:USB) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,631 shares of the financial services provider’s stock after acquiring an additional 10,942 shares during the period. Maryland State Retirement & Pension System’s holdings in U.S. Bancorp were worth $5,466,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Private Wealth Advisors LLC boosted its holdings in shares of U.S. Bancorp by 18.8% in the third quarter. International Private Wealth Advisors LLC now owns 7,170 shares of the financial services provider’s stock worth $414,000 after buying an additional 1,137 shares during the last quarter. DSG Capital Advisors LLC increased its holdings in U.S. Bancorp by 7.5% during the third quarter. DSG Capital Advisors LLC now owns 28,539 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 1,994 shares during the last quarter. Silver Grove Financial Group Inc. increased its holdings in U.S. Bancorp by 13.9% during the third quarter. Silver Grove Financial Group Inc. now owns 1,771 shares of the financial services provider’s stock valued at $102,000 after buying an additional 216 shares during the last quarter. Davis Investment Partners LLC raised its position in U.S. Bancorp by 12.7% in the third quarter. Davis Investment Partners LLC now owns 16,886 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 1,901 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in U.S. Bancorp by 12.6% in the third quarter. Illinois Municipal Retirement Fund now owns 341,263 shares of the financial services provider’s stock worth $19,711,000 after acquiring an additional 38,166 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.

U.S. Bancorp Trading Down 0.3%

Shares of USB stock opened at $60.53 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a fifty day simple moving average of $59.55 and a two-hundred day simple moving average of $58.28. The firm has a market capitalization of $94.32 billion, a PE ratio of 11.80, a PEG ratio of 1.16 and a beta of 1.02. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $64.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $64.00 price objective (down from $71.00) on shares of U.S. Bancorp in a research note on Thursday, October 15th. Royal Bank Of Canada decreased their target price on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Barclays lifted their target price on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Stephens boosted their price target on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.