Strs Ohio Lowers Position in U.S. Bancorp $USB

Key Points

• Strs Ohio trimmed its stake in U.S. Bancorp by 3.8% in the first quarter, selling 20,629 shares and leaving it with 526,300 shares worth about $27.4 million.
• Wall Street sentiment is mixed on USB, with a consensus rating of “Moderate Buy” and an average price target of $61.57, though recent analyst moves included both upgrades and a downgrade.
• U.S. Bancorp posted solid quarterly results, beating EPS and revenue estimates, and also declared a quarterly dividend of $0.52 per share, implying a 3.4% annual yield.

Strs Ohio lessened its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 526,300 shares of the financial services provider's stock after selling 20,629 shares during the quarter. Strs Ohio's holdings in U.S. Bancorp were worth $27,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Auto Owners Insurance Co raised its holdings in 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 worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the period. Capital Research Global Investors purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $296,377,000. SG Americas Securities LLC boosted its position in U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after purchasing an additional 4,210,676 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock valued at $1,329,683,000 after purchasing an additional 4,153,080 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on USB. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Oppenheimer decreased their price objective on shares of U.S. Bancorp from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Sunday, June 28th. Stephens assumed coverage on shares of U.S. Bancorp in a research note on Monday, June 15th. They set an "equal weight" rating and a $63.00 target price for the company. Finally, Jefferies Financial Group restated a "hold" rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.57.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Down 0.1%

Shares of USB opened at $61.67 on Friday. U.S. Bancorp has a 52-week low of $43.46 and a 52-week high of $62.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $56.57 and a two-hundred day simple moving average of $55.50. The company has a market capitalization of $95.67 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp's revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 43.61%.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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