California State Teachers Retirement System Trims Position in U.S. Bancorp $USB

California State Teachers Retirement System lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,361,599 shares of the financial services provider's stock after selling 18,509 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of U.S. Bancorp worth $142,640,580 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mufg Bank LTD. purchased a new position in U.S. Bancorp in the second quarter worth approximately $2,680,199,000. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co boosted its position in shares of U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider's stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the period. Bank of New York Mellon Corp bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at $536,457,000. Finally, Capital Research Global Investors acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $296,377,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Down 0.5%

U.S. Bancorp stock traded down $0.29 during trading hours on Tuesday, reaching $62.38. 3,319,115 shares of the company's stock were exchanged, compared to its average volume of 9,270,524. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The firm has a market capitalization of $97.20 billion, a PE ratio of 12.45, a PEG ratio of 1.12 and a beta of 0.95. The firm's 50 day simple moving average is $63.19 and its 200 day simple moving average is $58.09. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The business had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the prior year, the company posted $1.11 EPS. Research analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.5%. U.S. Bancorp's dividend payout ratio is presently 43.11%.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction 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 approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on USB. DA Davidson upped their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Robert W. Baird increased their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Morgan Stanley upped their target price on U.S. Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods raised their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Finally, BTIG Research set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.