National Pension Service Sells 11,680 Shares of U.S. Bancorp $USB

National Pension Service reduced its position in U.S. Bancorp (NYSE:USB) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,683,105 shares of the financial services provider’s stock after selling 11,680 shares during the quarter. National Pension Service owned about 0.24% of U.S. Bancorp worth $196,530,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after acquiring an additional 1,828,404 shares during the period. State Street Corp boosted its position in shares of U.S. Bancorp by 0.9% in the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after acquiring an additional 648,943 shares during the period. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after acquiring an additional 443,646 shares during the period. Davis Selected Advisers boosted its position in shares of U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after acquiring an additional 2,610,197 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of U.S. Bancorp by 7.2% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock valued at $858,290,000 after acquiring an additional 1,189,525 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. UBS Group reiterated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Finally, Evercore lifted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.20.

U.S. Bancorp Trading Up 0.8%

Shares of U.S. Bancorp stock opened at $54.87 on Friday. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The firm has a market cap of $85.17 billion, a PE ratio of 11.50, a PEG ratio of 0.98 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day simple moving average of $54.42 and a two-hundred day simple moving average of $53.92.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s payout ratio is presently 43.61%.

Insider Buying and Selling

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.