Maryland State Retirement & Pension System Purchases 3,010 Shares of U.S. Bancorp $USB

Maryland State Retirement & Pension System grew its position in U.S. Bancorp (NYSE:USB) by 4.1% in the second quarter, HoldingsChannel.com reports. The fund owned 75,913 shares of the financial services provider’s stock after buying an additional 3,010 shares during the quarter. Maryland State Retirement & Pension System’s holdings in U.S. Bancorp were worth $3,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of USB. Brighton Jones LLC raised its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Capital Investment Advisors LLC raised its position in U.S. Bancorp by 10.1% in the 1st quarter. Capital Investment Advisors LLC now owns 7,871 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 722 shares during the last quarter. Farther Finance Advisors LLC raised its position in U.S. Bancorp by 189.0% in the 1st quarter. Farther Finance Advisors LLC now owns 41,810 shares of the financial services provider’s stock worth $1,746,000 after purchasing an additional 27,343 shares during the last quarter. GAMMA Investing LLC raised its position in U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock worth $1,548,000 after purchasing an additional 333 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $205,000. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on USB shares. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Morgan Stanley set a $56.00 price objective on shares of U.S. Bancorp and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.11.

U.S. Bancorp Price Performance

USB opened at $47.07 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $44.68. The stock has a market cap of $73.25 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.47 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.76%.

Insiders Place Their Bets

In related news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.