State of New Jersey Common Pension Fund D Raises Position in U.S. Bancorp $USB

State of New Jersey Common Pension Fund D increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 523,423 shares of the financial services provider’s stock after buying an additional 15,822 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in U.S. Bancorp were worth $25,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after purchasing an additional 456,890 shares in the last quarter. Norges Bank purchased a new stake in U.S. Bancorp during the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers increased its stake in U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of U.S. Bancorp by 3.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after buying an additional 585,968 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Truist Financial raised their price target on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.3%

Shares of USB stock opened at $57.66 on Monday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The stock has a market cap of $89.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 1.06. The stock has a 50 day moving average of $55.43 and a 200 day moving average of $50.37. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio is 45.02%.

U.S. Bancorp Company 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.