U.S. Bancorp $USB Holdings Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in U.S. Bancorp (NYSE:USB) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,263 shares of the financial services provider’s stock after buying an additional 38,166 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in U.S. Bancorp were worth $19,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp in the second quarter worth $2,680,199,000. Bank of America Corp DE raised its position in U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after buying an additional 93,025 shares during the period. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp during the 2nd quarter worth about $536,457,000. Finally, First Trust Advisors LP lifted its holdings in U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.4%

Shares of NYSE:USB opened at $60.72 on Wednesday. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $59.60 and its 200-day moving average is $58.23. The company has a market capitalization of $94.61 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.16 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio (DPR) is currently 42.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Raymond James Financial reduced their target price on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 6th. UBS Group increased their target price on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Wolfe Research assumed coverage on shares of U.S. Bancorp in a report on Tuesday, October 27th. They set a “peer perform” rating for the company. Finally, Robert W. Baird boosted their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $68.65.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp 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 sale, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.