Public Employees Retirement System of Ohio Has $31.80 Million Holdings in U.S. Bancorp (NYSE:USB)

Public Employees Retirement System of Ohio cut its stake in U.S. Bancorp (NYSE:USB) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,377 shares of the financial services provider’s stock after selling 5,651 shares during the period. Public Employees Retirement System of Ohio’s holdings in U.S. Bancorp were worth $31,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its position in U.S. Bancorp by 11.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 56,141 shares of the financial services provider’s stock worth $2,567,000 after purchasing an additional 5,881 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of U.S. Bancorp by 3.8% during the third quarter. MML Investors Services LLC now owns 810,781 shares of the financial services provider’s stock valued at $37,077,000 after acquiring an additional 29,671 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of U.S. Bancorp during the third quarter valued at $40,000. Zacks Investment Management increased its position in U.S. Bancorp by 9.6% in the third quarter. Zacks Investment Management now owns 1,571,527 shares of the financial services provider’s stock worth $71,866,000 after purchasing an additional 137,463 shares during the period. Finally, Zega Financial LLC acquired a new position in U.S. Bancorp during the 3rd quarter valued at about $906,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.6 %

NYSE USB opened at $51.34 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $80.08 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.08 and a beta of 1.03. The company has a 50 day moving average of $49.24 and a 200-day moving average of $44.95. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.90%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

USB has been the topic of a number of recent research reports. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Oppenheimer raised their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.72.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.