U.S. Bancorp (NYSE:USB) Stake Boosted by Oregon Public Employees Retirement Fund

Posted by on Apr 9th, 2023

Oregon Public Employees Retirement Fund lifted its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,318 shares of the financial services provider’s stock after buying an additional 765 shares during the period. Oregon Public Employees Retirement Fund’s holdings in U.S. Bancorp were worth $4,549,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in U.S. Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 115,121,643 shares of the financial services provider’s stock worth $4,641,705,000 after buying an additional 1,441,430 shares during the last quarter. State Street Corp increased its holdings in shares of U.S. Bancorp by 0.4% in the 3rd quarter. State Street Corp now owns 58,898,088 shares of the financial services provider’s stock worth $2,402,820,000 after acquiring an additional 210,054 shares during the period. Charles Schwab Investment Management Inc. lifted its position in U.S. Bancorp by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after purchasing an additional 1,622,711 shares during the last quarter. Northern Trust Corp lifted its position in U.S. Bancorp by 1.7% in the 1st quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $945,727,000 after purchasing an additional 303,443 shares during the last quarter. Finally, First Trust Advisors LP grew its position in U.S. Bancorp by 7.6% in the 3rd quarter. First Trust Advisors LP now owns 7,038,610 shares of the financial services provider’s stock worth $283,797,000 after purchasing an additional 496,016 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $35.75 on Friday. The stock’s fifty day simple moving average is $42.86 and its 200 day simple moving average is $43.33. The stock has a market capitalization of $54.76 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.11 and a beta of 0.93. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a 52-week low of $32.72 and a 52-week high of $53.88.

U.S. Bancorp (NYSE:USB – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The firm had revenue of $6.37 billion for the quarter, compared to analysts’ expectations of $6.61 billion. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. U.S. Bancorp’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.92 annualized dividend and a dividend yield of 5.37%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 51.75%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on USB. StockNews.com started coverage on U.S. Bancorp in a research report on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group increased their price target on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, January 26th. Deutsche Bank Aktiengesellschaft lowered their price target on U.S. Bancorp from $60.00 to $52.00 in a report on Friday, January 6th. UBS Group raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $55.00 in a report on Tuesday, January 10th. Finally, Piper Sandler lowered their target price on shares of U.S. Bancorp from $57.00 to $53.00 in a research note on Friday, March 10th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.68.

U.S. Bancorp Profile

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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