Teachers Retirement System of The State of Kentucky lessened its position in U.S. Bancorp (NYSE:USB – Get Rating) by 4.2% during the first quarter, Holdings Channel reports. The institutional investor owned 95,394 shares of the financial services provider’s stock after selling 4,151 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in U.S. Bancorp were worth $5,070,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Versant Capital Management Inc increased its position in shares of U.S. Bancorp by 54.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 400 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of U.S. Bancorp by 107.1% during the 1st quarter. Arkadios Wealth Advisors now owns 20,610 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 10,658 shares during the last quarter. Beacon Financial Group increased its position in shares of U.S. Bancorp by 3.8% during the 1st quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 407 shares during the last quarter. DNB Asset Management AS increased its position in shares of U.S. Bancorp by 11.6% during the 1st quarter. DNB Asset Management AS now owns 329,048 shares of the financial services provider’s stock worth $17,489,000 after purchasing an additional 34,169 shares during the last quarter. Finally, Avestar Capital LLC increased its position in shares of U.S. Bancorp by 28.8% during the 1st quarter. Avestar Capital LLC now owns 6,224 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 1,393 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Jefferies Financial Group reduced their target price on U.S. Bancorp from $52.00 to $45.00 in a research note on Monday, July 11th. Wolfe Research reduced their target price on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft reduced their target price on U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Oppenheimer set a $68.00 price objective on U.S. Bancorp in a report on Tuesday, July 19th. Finally, Royal Bank of Canada decreased their price objective on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $58.56.
U.S. Bancorp Stock Performance
U.S. Bancorp (NYSE:USB – Get Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period last year, the business posted $1.28 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 4.45 earnings per share for the current fiscal year.
U.S. Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.48 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 42.30%.
U.S. Bancorp Company 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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