Kentucky Retirement Systems Cuts Holdings in U.S. Bancorp (USB)

Kentucky Retirement Systems decreased its stake in U.S. Bancorp (NYSE:USB) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,079 shares of the financial services provider’s stock after selling 84,704 shares during the period. Kentucky Retirement Systems’ holdings in U.S. Bancorp were worth $3,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WESPAC Advisors SoCal LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $27,000. Executive Wealth Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $27,000. Gantzert Investment Co. LLC ADV bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $32,000. ERTS Wealth Advisors LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $36,000. Finally, Centerpoint Advisors LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $45,000. 75.82% of the stock is currently owned by institutional investors and hedge funds.

NYSE:USB traded up $0.54 during trading hours on Friday, hitting $51.21. 8,816,250 shares of the stock were exchanged, compared to its average volume of 6,817,300. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $55.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.84. The company has a market cap of $81.95 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.71 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.00. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 4.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, March 28th. U.S. Bancorp’s dividend payout ratio is 36.10%.

Several equities analysts recently issued reports on USB shares. Jefferies Financial Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Zacks Investment Research restated a “hold” rating on shares of U.S. Bancorp in a research note on Monday, December 31st. Robert W. Baird lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research note on Monday, January 28th. Oppenheimer upped their price objective on U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Finally, Barclays upped their price objective on U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.18.

In other news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $51.50, for a total value of $758,955.50. Following the transaction, the insider now owns 61,737 shares of the company’s stock, valued at approximately $3,179,455.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $50.61, for a total value of $1,012,200.00. Following the completion of the transaction, the insider now directly owns 49,495 shares in the company, valued at approximately $2,504,941.95. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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