Arizona State Retirement System Has $21.50 Million Stake in U.S. Bancorp (NYSE:USB)

Arizona State Retirement System boosted its holdings in U.S. Bancorp (NYSE:USB) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 449,523 shares of the financial services provider’s stock after purchasing an additional 2,101 shares during the quarter. Arizona State Retirement System’s holdings in U.S. Bancorp were worth $21,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Winch Advisory Services LLC raised its stake in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in U.S. Bancorp in the 4th quarter worth about $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the 4th quarter worth about $28,000. Frazier Financial Advisors LLC raised its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. Finally, Global Wealth Strategies & Associates raised its stake in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer raised their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Up 0.2 %

U.S. Bancorp stock opened at $44.71 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm’s fifty day moving average is $47.70 and its 200 day moving average is $47.88. The company has a market capitalization of $69.75 billion, a PE ratio of 11.80, a PEG ratio of 1.73 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company earned $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last quarter. 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.