Illinois Municipal Retirement Fund Raises Position in U.S. Bancorp $USB

Illinois Municipal Retirement Fund raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 32.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,382 shares of the financial services provider’s stock after buying an additional 16,599 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in U.S. Bancorp were worth $3,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parcion Private Wealth LLC grew its holdings in shares of U.S. Bancorp by 0.4% during the third quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 218 shares in the last quarter. Bogart Wealth LLC grew its stake in U.S. Bancorp by 4.4% in the 3rd quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after buying an additional 234 shares in the last quarter. Hoxton Planning & Management LLC increased its holdings in shares of U.S. Bancorp by 3.4% in the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock worth $339,000 after buying an additional 234 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its position in shares of U.S. Bancorp by 0.5% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 235 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its position in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after buying an additional 237 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on USB. JPMorgan Chase & Co. upped their target price on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Argus upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Truist Financial raised their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a report on Wednesday, January 21st. Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $59.79.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $57.66 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $55.43 and its 200 day simple moving average is $50.37. The firm has a market cap of $89.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.03 and a beta of 1.06. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.