Kentucky Retirement Systems Decreases Holdings in U.S. Bancorp (NYSE:USB)

Kentucky Retirement Systems lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,233 shares of the financial services provider’s stock after selling 1,477 shares during the period. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $5,129,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of USB. Natixis Advisors LLC boosted its position in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at approximately $1,018,000. M&T Bank Corp boosted its holdings in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares during the period. D.A. Davidson & CO. grew its stake in U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after buying an additional 38,802 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 45,560 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Compass Point increased their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Oppenheimer increased their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.9 %

Shares of USB stock opened at $45.88 on Friday. The business has a 50-day moving average price of $48.19 and a two-hundred day moving average price of $47.64. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market cap of $71.57 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

U.S. Bancorp Company 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.