Retirement Systems of Alabama Raises Stock Position in U.S. Bancorp (NYSE:USB)

Retirement Systems of Alabama raised its position in U.S. Bancorp (NYSE:USB) by 0.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344,222 shares of the financial services provider’s stock after buying an additional 568 shares during the period. Retirement Systems of Alabama’s holdings in U.S. Bancorp were worth $13,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the first quarter valued at $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $30,000. Eagle Bay Advisors LLC increased its stake in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $31,000. Finally, Crewe Advisors LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $39,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. DA Davidson boosted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Trading Up 2.7 %

NYSE:USB traded up $1.20 on Friday, hitting $45.39. The stock had a trading volume of 5,094,524 shares, compared to its average volume of 8,400,540. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 4.20 and a beta of 1.04. The company has a fifty day moving average price of $42.12 and a two-hundred day moving average price of $41.69. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.88.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. Equities research analysts expect that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.