U.S. Bancorp $USB Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas reduced its stake in U.S. Bancorp by 12.5% in Q4, selling 75,231 shares and now holds 525,455 shares worth about $28.04 million.
• U.S. Bancorp beat quarterly estimates with $1.18 EPS (vs. $1.14 expected) and $7.32 billion in revenue, and paid a $0.52 quarterly dividend (annualized $2.08, ~3.7% yield).
• Corporate insiders have been selling recently — Mark G. Runkel sold 32,195 shares at $60.65 and Jodi L. Richard sold 40,000 shares at $57 — leaving insiders with just 0.21% ownership.

Teacher Retirement System of Texas decreased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 525,455 shares of the financial services provider's stock after selling 75,231 shares during the period. Teacher Retirement System of Texas' holdings in U.S. Bancorp were worth $28,038,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in USB. Chemung Canal Trust Co. lifted its holdings in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider's stock worth $3,302,000 after acquiring an additional 45,963 shares during the period. Citigroup Inc. increased its position in U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock worth $84,568,000 after purchasing an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp increased its position in U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock worth $17,738,000 after purchasing an additional 47,537 shares in the last quarter. Danske Bank A S acquired a new stake in U.S. Bancorp during the 3rd quarter worth approximately $37,162,000. Finally, Synergy Asset Management LLC increased its position in U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider's stock worth $5,428,000 after purchasing an additional 59,981 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company's stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $56.65 on Friday. The business's 50 day moving average is $54.29 and its two-hundred day moving average is $52.55. U.S. Bancorp has a 52-week low of $39.26 and a 52-week high of $61.19. The firm has a market cap of $87.94 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.02 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the company posted $1.03 EPS. U.S. Bancorp's quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is presently 43.61%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays increased their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, January 21st. Jefferies Financial Group reissued a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Oppenheimer increased their target price on shares of U.S. Bancorp from $71.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of U.S. Bancorp in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.18.

U.S. Bancorp 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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