Kentucky Retirement Systems Increases Holdings in U.S. Bancorp (NYSE:USB)

Kentucky Retirement Systems grew its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,837 shares of the financial services provider’s stock after buying an additional 5,491 shares during the quarter. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $4,267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Probity Advisors Inc. raised its position in shares of U.S. Bancorp by 0.8% during the 2nd quarter. Probity Advisors Inc. now owns 25,764 shares of the financial services provider’s stock valued at $1,186,000 after buying an additional 214 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of U.S. Bancorp by 1.7% during the 3rd quarter. Waldron Private Wealth LLC now owns 14,330 shares of the financial services provider’s stock valued at $584,000 after buying an additional 234 shares in the last quarter. Smith Salley & Associates raised its position in shares of U.S. Bancorp by 0.3% during the 3rd quarter. Smith Salley & Associates now owns 69,471 shares of the financial services provider’s stock valued at $2,801,000 after buying an additional 236 shares in the last quarter. Tradewinds LLC. raised its position in shares of U.S. Bancorp by 3.2% during the 3rd quarter. Tradewinds LLC. now owns 8,054 shares of the financial services provider’s stock valued at $325,000 after buying an additional 246 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its position in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,899 shares of the financial services provider’s stock valued at $238,000 after buying an additional 247 shares in the last quarter. 71.83% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $37.51 on Wednesday. The company has a 50 day moving average price of $47.07 and a 200-day moving average price of $44.65. U.S. Bancorp has a fifty-two week low of $36.13 and a fifty-two week high of $57.92. The stock has a market capitalization of $57.46 billion, a PE ratio of 10.11, a PEG ratio of 1.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.79.

U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.09. U.S. Bancorp had a net margin of 21.26% and a return on equity of 16.13%. The firm had revenue of $6.37 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 5.01 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.12%. U.S. Bancorp’s payout ratio is 51.75%.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. UBS Group upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $47.00 to $55.00 in a report on Tuesday, January 10th. Barclays upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $62.00 to $68.00 in a report on Tuesday, January 3rd. Credit Suisse Group upped their price target on shares of U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, January 26th. Morgan Stanley cut their price target on shares of U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of U.S. Bancorp from $60.00 to $52.00 in a report on Friday, January 6th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $54.83.

U.S. Bancorp Company Profile

(Get Rating)

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.