Arizona State Retirement System Purchases 8,304 Shares of U.S. Bancorp (NYSE:USB)

Arizona State Retirement System raised its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 457,827 shares of the financial services provider's stock after buying an additional 8,304 shares during the quarter. Arizona State Retirement System's holdings in U.S. Bancorp were worth $19,329,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in USB. Brighton Jones LLC raised its position in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Proficio Capital Partners LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth $5,986,000. PFG Advisors bought a new position in shares of U.S. Bancorp during the 4th quarter worth $254,000. EverSource Wealth Advisors LLC grew its stake in shares of U.S. Bancorp by 71.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,321 shares of the financial services provider's stock worth $350,000 after acquiring an additional 3,060 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of U.S. Bancorp by 3.8% during the 4th quarter. Farther Finance Advisors LLC now owns 14,467 shares of the financial services provider's stock worth $692,000 after acquiring an additional 530 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director directly owned 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 3.0%

Shares of USB stock traded down $1.40 during trading hours on Tuesday, reaching $45.67. The company's stock had a trading volume of 15,893,337 shares, compared to its average volume of 9,451,329. The stock has a market capitalization of $71.15 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.81 and a beta of 0.99. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm's fifty day simple moving average is $44.59 and its 200 day simple moving average is $44.32. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.38%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Analysts Set New Price Targets

Several research analysts have commented on USB shares. Citigroup raised their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada cut their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. Evercore ISI raised their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $51.70.

About U.S. Bancorp

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.