Maryland State Retirement & Pension System Sells 10,711 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in U.S. Bancorp by 12.8%, now owning 72,903 shares valued at approximately $3.08 million.
• Institutional investments in U.S. Bancorp have varied significantly, with Marshall Wace LLP increasing its stake by 414.1% during the last quarter.
• U.S. Bancorp's recent quarterly earnings report showed an EPS of $1.11, exceeding analysts' expectations and indicating a 2% revenue growth compared to the previous year.

Maryland State Retirement & Pension System lowered its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,903 shares of the financial services provider's stock after selling 10,711 shares during the period. Maryland State Retirement & Pension System's holdings in U.S. Bancorp were worth $3,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Westend Capital Management LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $27,000. YANKCOM Partnership lifted its position in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $30,000. REAP Financial Group LLC lifted its stake in shares of U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on USB shares. Barclays cut their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Evercore ISI upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Citigroup upped their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial upped their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

U.S. Bancorp Stock Down 0.7%

Shares of U.S. Bancorp stock traded down $0.30 during midday trading on Monday, hitting $44.56. The company's stock had a trading volume of 7,201,231 shares, compared to its average volume of 10,741,460. The firm has a market capitalization of $69.42 billion, a P/E ratio of 10.66, a PEG ratio of 1.41 and a beta of 1.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a 50-day simple moving average of $45.27 and a 200-day simple moving average of $43.90.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. U.S. Bancorp's dividend payout ratio (DPR) is presently 47.85%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.23% of the company's stock.

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.