Oregon Public Employees Retirement Fund Acquires 43,353 Shares of U.S. Bancorp $USB

Oregon Public Employees Retirement Fund boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 32.2% during the third quarter, Holdings Channel reports. The firm owned 177,912 shares of the financial services provider’s stock after acquiring an additional 43,353 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in U.S. Bancorp were worth $8,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC lifted its stake in 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 worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC increased its position in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Woodline Partners LP raised its holdings in U.S. Bancorp by 40.7% in the 1st quarter. Woodline Partners LP now owns 131,797 shares of the financial services provider’s stock worth $5,564,000 after purchasing an additional 38,111 shares in the last quarter. SCS Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth $481,000. Finally, Integrity Alliance LLC. lifted its position in shares of U.S. Bancorp by 524.7% in the 1st quarter. Integrity Alliance LLC. now owns 26,737 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 22,457 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $55.23 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market cap of $85.84 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.96 and a beta of 1.07. The business’s 50 day moving average price is $51.07 and its 200-day moving average price is $48.51. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 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 Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. U.S. Bancorp’s payout ratio is presently 47.60%.

Insider Activity

In related news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Keefe, Bruyette & Woods boosted their price target on shares of U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. UBS Group lifted their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Barclays increased their target price on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research report on Wednesday. Finally, The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.30.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.