National Pension Service Purchases 187,935 Shares of U.S. Bancorp $USB

National Pension Service lifted its position in shares of U.S. Bancorp (NYSE:USB) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,609,066 shares of the financial services provider’s stock after purchasing an additional 187,935 shares during the period. National Pension Service owned 0.23% of U.S. Bancorp worth $163,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ironwood Investment Counsel LLC increased its stake in shares of U.S. Bancorp by 2.9% during the second quarter. Ironwood Investment Counsel LLC now owns 151,806 shares of the financial services provider’s stock valued at $6,869,000 after buying an additional 4,270 shares during the period. VeraBank N.A. boosted its position in U.S. Bancorp by 164.3% during the 2nd quarter. VeraBank N.A. now owns 30,971 shares of the financial services provider’s stock valued at $1,401,000 after acquiring an additional 19,254 shares in the last quarter. Verus Capital Partners LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $201,000. CENTRAL TRUST Co grew its stake in U.S. Bancorp by 13.9% in the second quarter. CENTRAL TRUST Co now owns 63,860 shares of the financial services provider’s stock worth $2,890,000 after purchasing an additional 7,780 shares during the period. Finally, Nwam LLC raised its holdings in U.S. Bancorp by 0.5% in the second quarter. Nwam LLC now owns 120,951 shares of the financial services provider’s stock worth $5,549,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Andrew Cecere sold 140,445 shares of the business’s 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 directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on USB shares. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. UBS Group increased their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Truist Financial increased their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Bank of America upped their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Price Performance

NYSE USB opened at $47.85 on Thursday. The company has a 50-day moving average price of $47.90 and a 200-day moving average price of $46.00. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $74.38 billion, a P/E ratio of 10.95, a PEG ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is presently 47.60%.

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.