U.S. Bancorp $USB Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of U.S. Bancorp (NYSE:USB) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,819,756 shares of the financial services provider’s stock after selling 126,500 shares during the period. New York State Common Retirement Fund’s holdings in U.S. Bancorp were worth $87,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in USB. Brighton Jones LLC increased its position in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Empowered Funds LLC lifted its holdings in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC lifted its holdings in U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth $425,000. Finally, Sound Income Strategies LLC grew its holdings in shares of U.S. Bancorp by 78.3% during the second quarter. Sound Income Strategies LLC now owns 1,218 shares of the financial services provider’s stock worth $55,000 after buying an additional 535 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $56.35 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.70. The stock’s fifty day moving average is $53.37 and its two-hundred day moving average is $49.33. The company has a market capitalization of $87.60 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.00 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. Citigroup raised their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. HSBC reiterated a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. TD Cowen boosted their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.19.

U.S. Bancorp Profile

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.