Kentucky Retirement Systems Increases Holdings in U.S. Bancorp $USB

Kentucky Retirement Systems boosted its stake in U.S. Bancorp (NYSE:USB) by 53.8% in the 1st quarter, Holdings Channel reports. The firm owned 150,783 shares of the financial services provider’s stock after acquiring an additional 52,723 shares during the quarter. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $7,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in USB. Janus Henderson Group PLC lifted its holdings in shares of U.S. Bancorp by 4.5% in the first quarter. Janus Henderson Group PLC now owns 624,662 shares of the financial services provider’s stock worth $32,487,000 after buying an additional 27,168 shares in the last quarter. Oddo BHF Asset Management Sas boosted its position in shares of U.S. Bancorp by 4.1% in the first quarter. Oddo BHF Asset Management Sas now owns 24,552 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 965 shares during the period. Bull Harbor Capital LLC purchased a new position in U.S. Bancorp during the first quarter valued at approximately $563,000. Strategic Investment Advisors MI purchased a new position in U.S. Bancorp during the first quarter valued at approximately $1,372,000. Finally, IFS Group LLC bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $315,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $62.86 on Thursday. The stock has a 50-day moving average price of $59.49 and a 200-day moving average price of $56.60. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $97.50 billion, a P/E ratio of 12.55, a PEG ratio of 1.06 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm posted $1.11 EPS. Equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Stephens upped their target price on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Truist Financial lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Oppenheimer boosted their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

Insiders Place Their Bets

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

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.