Illinois Municipal Retirement Fund Increases Stock Holdings in U.S. Bancorp $USB

Illinois Municipal Retirement Fund boosted its stake in U.S. Bancorp (NYSE:USB) by 32.7% during 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 acquiring an additional 16,599 shares during the period. Illinois Municipal Retirement Fund’s holdings in U.S. Bancorp were worth $3,257,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in USB. Norges Bank bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $971,285,000. Davis Selected Advisers boosted its position in U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of U.S. Bancorp by 1,589.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after acquiring an additional 3,266,724 shares during the period. AQR Capital Management LLC raised its position in shares of U.S. Bancorp by 354.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after acquiring an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on 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 completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $57.66 on Monday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm’s 50-day moving average is $55.43 and its 200 day moving average is $50.37. The stock 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. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

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.