California State Teachers Retirement System Sells 65,315 Shares of U.S. Bancorp $USB

California State Teachers Retirement System lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,380,108 shares of the financial services provider’s stock after selling 65,315 shares during the quarter. California State Teachers Retirement System’s holdings in U.S. Bancorp were worth $123,789,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the first quarter worth approximately $27,000. Main Street Group LTD bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $28,000. Rossby Financial LCC grew its position in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the period. Finally, NFSG Corp purchased a new stake in U.S. Bancorp during the 1st quarter valued at $31,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of several research analyst reports. Robert W. Baird increased their price target on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Barclays lifted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Truist Financial upped their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 17th. DA Davidson increased their target price on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, BTIG Research set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 2.4%

Shares of USB stock opened at $62.86 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $97.50 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.06 and a beta of 0.96. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The firm has a fifty day moving average price of $59.49 and a 200-day moving average price of $56.60.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm earned $1.11 EPS. As a group, equities analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

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.