Teachers Retirement System of The State of Kentucky Has $5.16 Million Holdings in U.S. Bancorp (NYSE:USB)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 112,778 shares of the financial services provider’s stock after selling 7,148 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in U.S. Bancorp were worth $5,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the period. Hilltop Holdings Inc. boosted its holdings in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in U.S. Bancorp by 544.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares in the last quarter. Summit Financial Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth about $4,505,000. Finally, M&T Bank Corp increased its holdings in shares of U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler increased their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.27.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of USB opened at $51.10 on Friday. The stock has a market cap of $79.72 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock’s 50-day moving average price is $49.52 and its two-hundred day moving average price is $45.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. On average, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp announced that its board has approved a stock repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.