U.S. Bancorp (NYSE:USB) Stock Holdings Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in U.S. Bancorp (NYSE:USB) by 0.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 554,234 shares of the financial services provider’s stock after purchasing an additional 1,594 shares during the period. State of New Jersey Common Pension Fund D’s holdings in U.S. Bancorp were worth $25,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $30,000. Eagle Bay Advisors LLC grew its stake in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter worth about $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 1.3 %

Shares of USB traded up $0.65 on Friday, hitting $50.21. 8,615,275 shares of the stock traded hands, compared to its average volume of 9,218,101. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. The company has a market capitalization of $78.33 billion, a PE ratio of 15.35, a P/E/G ratio of 3.02 and a beta of 1.02. The business has a 50 day simple moving average of $46.52 and a 200 day simple moving average of $43.37.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.98%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Citigroup raised their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.12.

U.S. Bancorp Company 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.