California Public Employees Retirement System Boosts Stake in U.S. Bancorp $USB

California Public Employees Retirement System increased its position in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,860,364 shares of the financial services provider’s stock after buying an additional 131,228 shares during the quarter. California Public Employees Retirement System owned about 0.18% of U.S. Bancorp worth $138,241,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter valued at $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter valued at $27,000. Finally, Binnacle Investments Inc boosted its stake in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 0.9%

USB stock opened at $51.00 on Monday. The stock has a market capitalization of $79.17 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The company has a fifty day moving average of $55.86 and a 200-day moving average of $51.62. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results 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 business had revenue of $7.92 billion for the quarter, compared to analyst estimates 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 was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. As a group, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on USB shares. Argus raised their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Company 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.