U.S. Bancorp $USB Stock Position Cut by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D cut its stake in U.S. Bancorp by 8.4%, now holding 507,601 shares worth approximately $21.43 million.
• Various large investors have increased their stakes in U.S. Bancorp, with Wesbanco Bank Inc. leading with a 31.6% boost during the first quarter.
• U.S. Bancorp reported earnings per share of $1.11 for its last quarter, exceeding analysts' expectations of $1.07 and showing a year-over-year revenue increase of 2.0%.

State of New Jersey Common Pension Fund D decreased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 8.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 507,601 shares of the financial services provider's stock after selling 46,633 shares during the period. State of New Jersey Common Pension Fund D's holdings in U.S. Bancorp were worth $21,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Westend Capital Management LLC purchased a new position in U.S. Bancorp in the first quarter valued at approximately $27,000. REAP Financial Group LLC raised its holdings in 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 valued at $31,000 after buying an additional 297 shares during the period. YANKCOM Partnership raised its stake in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 260 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp during the first quarter worth $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of U.S. Bancorp by 1,212.1% during the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after purchasing an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Citigroup boosted their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. TD Cowen began coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Cowen began coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

U.S. Bancorp Stock Performance

USB stock traded up $0.2490 during trading on Wednesday, hitting $46.4590. 5,483,267 shares of the company's stock traded hands, compared to its average volume of 10,588,315. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a fifty day moving average price of $45.51 and a two-hundred day moving average price of $43.81. The stock has a market capitalization of $72.30 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.45 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.3%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were 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 owned 70,346 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

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.