Kentucky Retirement Systems Sells 1,477 Shares of U.S. Bancorp (NYSE:USB)

Kentucky Retirement Systems reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,233 shares of the financial services provider’s stock after selling 1,477 shares during the period. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $5,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Financial Mangement LLC bought a new position in shares of U.S. Bancorp during the fourth quarter worth about $204,000. First Bank & Trust increased its position in U.S. Bancorp by 5.4% during the 4th quarter. First Bank & Trust now owns 81,297 shares of the financial services provider’s stock valued at $3,888,000 after purchasing an additional 4,162 shares during the period. RW Investment Management LLC raised its holdings in U.S. Bancorp by 1.2% during the 4th quarter. RW Investment Management LLC now owns 49,932 shares of the financial services provider’s stock worth $2,388,000 after purchasing an additional 582 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of U.S. Bancorp by 10.3% in the 4th quarter. Handelsbanken Fonder AB now owns 438,943 shares of the financial services provider’s stock worth $20,995,000 after purchasing an additional 41,059 shares during the period. Finally, Sunpointe LLC boosted its stake in shares of U.S. Bancorp by 3.1% in the 4th quarter. Sunpointe LLC now owns 15,154 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 459 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on USB shares. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Down 1.9 %

U.S. Bancorp stock opened at $45.88 on Friday. The firm has a market capitalization of $71.57 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04. The firm’s fifty day moving average price is $48.19 and its two-hundred day moving average price is $47.64. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.36%. U.S. Bancorp’s payout ratio is 52.77%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.