Kentucky Retirement Systems Insurance Trust Fund Sells 4,086 Shares of U.S. Bancorp (NYSE:USB)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,383 shares of the financial services provider’s stock after selling 4,086 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in U.S. Bancorp were worth $2,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Planned Solutions Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth about $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $30,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp during the first quarter worth approximately $30,000. Eagle Bay Advisors LLC boosted its holdings in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $39,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

USB stock traded up $0.37 during trading on Friday, reaching $45.46. 5,681,656 shares of the company were exchanged, compared to its average volume of 9,558,748. The company has a 50-day moving average of $40.74 and a two-hundred day moving average of $41.52. The company has a market capitalization of $70.94 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.39 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.31%. U.S. Bancorp’s dividend payout ratio is 64.90%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on USB. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Citigroup increased their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Barclays lowered their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.76.

U.S. Bancorp Company Profile

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.