New York State Teachers Retirement System Sells 36,701 Shares of U.S. Bancorp (NYSE:USB)

New York State Teachers Retirement System lowered its stake in U.S. Bancorp (NYSE:USB) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,369,786 shares of the financial services provider’s stock after selling 36,701 shares during the period. New York State Teachers Retirement System’s holdings in U.S. Bancorp were worth $65,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. State Street Corp lifted its stake in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC increased its stake in shares of U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after acquiring an additional 1,796,336 shares during the period. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after purchasing an additional 436,252 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on USB shares. Barclays boosted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Stephens increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.32 on Friday. The stock has a market cap of $73.83 billion, a PE ratio of 12.49, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a 50-day moving average of $48.80 and a 200-day moving average of $47.50. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.23%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp 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.