State Board of Administration of Florida Retirement System Sells 30,237 Shares of U.S. Bancorp $USB

State Board of Administration of Florida Retirement System trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,549,967 shares of the financial services provider’s stock after selling 30,237 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of U.S. Bancorp worth $70,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Curbstone Financial Management Corp lifted its holdings in U.S. Bancorp by 0.6% during the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after buying an additional 222 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in U.S. Bancorp by 3.5% during the second quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 237 shares in the last quarter. Mechanics Financial Corp grew its stake in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 240 shares during the last quarter. Northern Financial Advisors Inc lifted its position in shares of U.S. Bancorp by 5.0% during the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after buying an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE boosted its holdings in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 249 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.2%

Shares of U.S. Bancorp stock opened at $49.00 on Friday. The stock has a market cap of $76.17 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The firm has a fifty day moving average price of $47.51 and a 200 day moving average price of $46.45. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was up 6.8% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Oppenheimer lowered their target price on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. DA Davidson upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Bank of America increased their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.45.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

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.