Retirement Systems of Alabama Acquires 568 Shares of U.S. Bancorp (NYSE:USB)

Retirement Systems of Alabama boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. ADV purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $5,440,000. Spinnaker Trust purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $220,000. Morningstar Investment Management LLC raised its position in U.S. Bancorp by 760.8% during the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after purchasing an additional 74,094 shares in the last quarter. Brookstone Capital Management raised its position in U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after purchasing an additional 208,528 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in U.S. Bancorp by 2.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock valued at $137,988,000 after purchasing an additional 76,053 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB traded up $1.20 during mid-day trading on Friday, reaching $45.39. 5,094,524 shares of the company traded hands, compared to its average volume of 8,400,540. The stock has a market capitalization of $70.83 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.20 and a beta of 1.04. 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 company’s fifty day moving average price is $42.12 and its 200-day moving average price is $41.69. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $45.88.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during 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%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on USB shares. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group decreased their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada lifted their price objective on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Finally, Citigroup lifted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $48.23.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

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.