California State Teachers Retirement System Sells 26,181 Shares of U.S. Bancorp (NYSE:USB)

California State Teachers Retirement System lowered its position in U.S. Bancorp (NYSE:USB – Get Rating) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,427,050 shares of the financial services provider’s stock after selling 26,181 shares during the period. California State Teachers Retirement System owned 0.16% of U.S. Bancorp worth $97,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in USB. Mach 1 Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth approximately $26,000. Kistler Tiffany Companies LLC raised its stake in shares of U.S. Bancorp by 334.0% in the third quarter. Kistler Tiffany Companies LLC now owns 868 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 668 shares during the last quarter. Heritage Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth approximately $37,000. MV Capital Management Inc. raised its stake in shares of U.S. Bancorp by 32.0% in the third quarter. MV Capital Management Inc. now owns 1,069 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 259 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of U.S. Bancorp by 59.7% in the third quarter. Sound Income Strategies LLC now owns 1,094 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several analyst reports. StockNews.com initiated coverage on U.S. Bancorp in a research note on Thursday. They issued a “hold” rating for the company. Citigroup increased their price target on U.S. Bancorp from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on U.S. Bancorp from $60.00 to $52.00 in a research report on Friday, January 6th. Piper Sandler decreased their price target on U.S. Bancorp from $57.00 to $53.00 in a research report on Friday, March 10th. Finally, Morgan Stanley decreased their price target on U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.83.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $35.44 on Thursday. U.S. Bancorp has a one year low of $35.15 and a one year high of $57.92. The business has a fifty day moving average price of $46.85 and a 200-day moving average price of $44.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.79 and a quick ratio of 0.78. The firm has a market capitalization of $54.29 billion, a P/E ratio of 9.55, a PEG ratio of 1.25 and a beta of 0.98.

U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The firm had revenue of $6.37 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 5.01 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.42%. U.S. Bancorp’s payout ratio is currently 51.75%.

U.S. Bancorp Company Profile

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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.