Public Sector Pension Investment Board Has $17.61 Million Stock Position in U.S. Bancorp (NYSE:USB)

Key Points

• The Public Sector Pension Investment Board increased its stake in U.S. Bancorp by 3.1% in the first quarter, holding a total of 417,137 shares valued at $17.61 million.
• U.S. Bancorp recently reported quarterly earnings of $1.11 per share, exceeding the consensus estimate of $1.07, while also announcing a quarterly dividend of $0.50 per share.
• Wall Street analysts have largely favorable views on U.S. Bancorp, with a consensus rating of "Moderate Buy" and an average target price of $52.55.

Public Sector Pension Investment Board lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417,137 shares of the financial services provider's stock after purchasing an additional 12,353 shares during the quarter. Public Sector Pension Investment Board's holdings in U.S. Bancorp were worth $17,612,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth $27,000. YANKCOM Partnership boosted its position in U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp during the first quarter worth approximately $30,000. REAP Financial Group LLC boosted its position in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in U.S. Bancorp by 118.0% during the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider's stock worth $31,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $44.56 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $45.29 and a 200 day simple moving average of $43.86. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market capitalization of $69.34 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.41 and a beta of 1.01.

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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Citigroup upped their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Truist Financial upped their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Oppenheimer upped their target price on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.55.

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.

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