New York State Teachers Retirement System Has $64.32 Million Position in U.S. Bancorp (NYSE:USB)

New York State Teachers Retirement System lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,406,487 shares of the financial services provider’s stock after selling 23,416 shares during the period. New York State Teachers Retirement System’s holdings in U.S. Bancorp were worth $64,319,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP raised its holdings in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after purchasing an additional 1,097,179 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after purchasing an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after purchasing an additional 925,073 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on USB. Citigroup raised their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.87.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $48.69 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $46.10 and its 200-day simple moving average is $42.97. U.S. Bancorp has a twelve month low of $30.88 and a twelve month high of $50.47. The firm has a market cap of $75.98 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.11%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has approved a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Profile

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.