California State Teachers Retirement System Boosts Holdings in U.S. Bancorp $USB

California State Teachers Retirement System raised its position in U.S. Bancorp (NYSE:USB) by 5,893.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 142,640,580 shares of the financial services provider’s stock after buying an additional 140,260,472 shares during the quarter. California State Teachers Retirement System owned about 0.09% of U.S. Bancorp worth $8,615,491,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Mufg Bank LTD. acquired a new position in shares of U.S. Bancorp during the second quarter worth about $2,680,199,000. Norges Bank purchased a new stake in U.S. Bancorp in the 4th quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co boosted its holdings in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $536,457,000. Finally, Capital Research Global Investors acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $296,377,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on USB. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of U.S. Bancorp in a report on Monday, August 24th. JPMorgan Chase & Co. increased their price objective on U.S. Bancorp from $67.50 to $69.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wells Fargo & Company raised their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Raymond James Financial assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

USB stock opened at $62.52 on Wednesday. The firm has a 50 day moving average of $63.16 and a 200-day moving average of $57.93. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market cap of $97.41 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.13 and a beta of 0.95.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $1.11 EPS. As a group, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

About U.S. Bancorp

U.S. Bancorp (NYSE:USB) is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.