New York State Common Retirement Fund Sells 146,425 Shares of U.S. Bancorp (NYSE:USB)

New York State Common Retirement Fund cut its stake in shares of U.S. Bancorp (NYSE:USB) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,127,472 shares of the financial services provider’s stock after selling 146,425 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of U.S. Bancorp worth $92,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CGC Financial Services LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in U.S. Bancorp in the fourth quarter worth about $26,000. Planned Solutions Inc. purchased a new position in U.S. Bancorp in the fourth quarter worth about $27,000. Legacy Financial Group LLC purchased a new position in U.S. Bancorp in the third quarter worth about $30,000. Finally, Naples Money Management LLC purchased a new position in U.S. Bancorp in the fourth quarter worth about $30,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.2 %

Shares of USB traded up $0.08 during midday trading on Tuesday, hitting $41.13. 2,744,345 shares of the stock were exchanged, compared to its average volume of 8,756,881. The firm has a market cap of $64.09 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.10 and a beta of 1.05. The stock has a fifty day simple moving average of $42.32 and a 200 day simple moving average of $39.96. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

USB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Morgan Stanley lifted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Finally, Royal Bank of Canada lifted their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $46.14.

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.