Public Employees Retirement System of Ohio Buys Shares of 612,952 U.S. Bancorp $USB

Public Employees Retirement System of Ohio purchased a new position in U.S. Bancorp (NYSE:USB) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 612,952 shares of the financial services provider’s stock, valued at approximately $37,022,000.

Other large investors also recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $30,000. Bcwm LLC acquired a new stake in U.S. Bancorp in the 2nd quarter worth approximately $204,000. First Bancorp Inc ME acquired a new stake in U.S. Bancorp in the 2nd quarter worth approximately $614,000. Ancora Advisors LLC bought a new stake in U.S. Bancorp during the second quarter worth approximately $2,233,000. Finally, Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the second quarter valued at approximately $9,518,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $62.50 on Friday. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The stock has a market capitalization of $97.38 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. The business’s fifty day moving average price is $62.84 and its two-hundred day moving average price is $57.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 earnings per share. As a group, analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on USB shares. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. Barclays raised their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Truist Financial upped their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.06.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp 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.