Kentucky Retirement Systems Insurance Trust Fund Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 40.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 64,675 shares of the financial services provider’s stock after purchasing an additional 18,474 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in U.S. Bancorp were worth $3,093,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the last quarter. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $30,000. Finally, Albion Financial Group UT raised its holdings in U.S. Bancorp by 92.8% in the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 335 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB opened at $47.73 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm’s 50 day moving average price is $48.61 and its 200-day moving average price is $47.55. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market cap of $74.46 billion, a PE ratio of 12.59, a P/E/G ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on USB shares. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp 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.