California State Teachers Retirement System Lowers Holdings in U.S. Bancorp (NYSE:USB)

California State Teachers Retirement System lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,407,174 shares of the financial services provider's stock after selling 134,968 shares during the period. California State Teachers Retirement System owned approximately 0.15% of U.S. Bancorp worth $115,135,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $777,524,000. Invesco Ltd. lifted its holdings in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after acquiring an additional 4,663,518 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at $184,733,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $0.18 during mid-day trading on Thursday, reaching $40.52. The stock had a trading volume of 7,192,048 shares, compared to its average volume of 9,090,429. The business's 50 day moving average price is $41.33 and its 200 day moving average price is $46.49. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a market cap of $63.14 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the company earned $0.78 EPS. Research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.94%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio is 49.50%.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of several research reports. Wells Fargo & Company dropped their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citigroup decreased their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Morgan Stanley decreased their target price on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Raymond James reissued an "outperform" rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.48.

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.