California Public Employees Retirement System decreased its position in U.S. Bancorp (NYSE:USB) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,409,000 shares of the financial services provider’s stock after selling 79,394 shares during the period. California Public Employees Retirement System’s holdings in U.S. Bancorp were worth $236,234,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in shares of U.S. Bancorp by 68.9% during the 2nd quarter. Venturi Wealth Management LLC now owns 17,161 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 7,000 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of U.S. Bancorp by 1.8% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 243,509 shares of the financial services provider’s stock worth $12,643,000 after purchasing an additional 4,315 shares during the period. Essex Financial Services Inc. boosted its position in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Essex Financial Services Inc. now owns 110,436 shares of the financial services provider’s stock worth $5,734,000 after purchasing an additional 794 shares during the period. Parallel Advisors LLC boosted its position in shares of U.S. Bancorp by 12.7% during the 2nd quarter. Parallel Advisors LLC now owns 10,728 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 1,206 shares during the period. Finally, Coho Partners Ltd. purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $2,706,000. 72.80% of the stock is owned by institutional investors and hedge funds.
USB has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Deutsche Bank raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $63.00 in a research report on Thursday, January 25th. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price objective on shares of U.S. Bancorp in a research report on Monday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price objective for the company in a research report on Friday, January 5th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.13.
Shares of U.S. Bancorp (USB) opened at $54.91 on Wednesday. The stock has a market cap of $91,120.00, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87. U.S. Bancorp has a fifty-two week low of $49.53 and a fifty-two week high of $58.50. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.73.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. equities analysts predict that U.S. Bancorp will post 4.03 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “California Public Employees Retirement System Has $236.23 Million Stake in U.S. Bancorp (USB)” was reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.thestockobserver.com/2018/02/21/california-public-employees-retirement-system-has-236-23-million-stake-in-u-s-bancorp-usb.html.
U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.