California State Teachers Retirement System Increases Holdings in U.S. Bancorp $USB

California State Teachers Retirement System raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5,893.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 142,640,580 shares of the financial services provider's stock after acquiring an additional 140,260,472 shares during the quarter. California State Teachers Retirement System owned approximately 9.16% of U.S. Bancorp worth $8,615,491,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in USB. Alan B Lancz & Associates Inc. acquired a new position in U.S. Bancorp in the second quarter valued at approximately $217,000. Guardian Wealth Advisors LLC NC raised its holdings in U.S. Bancorp by 14.1% during the second quarter. Guardian Wealth Advisors LLC NC now owns 6,729 shares of the financial services provider's stock worth $408,000 after purchasing an additional 830 shares in the last quarter. Wedmont Private Capital lifted its position in shares of U.S. Bancorp by 2.6% during the 2nd quarter. Wedmont Private Capital now owns 27,718 shares of the financial services provider's stock worth $1,730,000 after buying an additional 698 shares during the last quarter. Kintra Wealth LLC lifted its position in shares of U.S. Bancorp by 18.0% during the 2nd quarter. Kintra Wealth LLC now owns 5,613 shares of the financial services provider's stock worth $366,000 after buying an additional 856 shares during the last quarter. Finally, Sovereign Investment Advisors LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company's stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $62.52 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The firm has a market cap of $97.41 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company's 50 day simple moving average is $63.16 and its 200-day simple moving average is $57.93. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the previous year, the company posted $1.11 EPS. As a group, equities analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp's payout ratio is currently 41.52%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of U.S. Bancorp from $67.50 to $69.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, July 6th. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Citigroup reaffirmed a "buy" rating on shares of U.S. Bancorp in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $68.00 target price on shares of U.S. Bancorp in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.06.

About U.S. Bancorp

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.

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