U.S. Bancorp (NYSE:USB) Stake Boosted by State of Michigan Retirement System

State of Michigan Retirement System increased its position in shares of U.S. Bancorp (NYSE:USB) by 0.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,682 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. State of Michigan Retirement System’s holdings in U.S. Bancorp were worth $19,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. CGC Financial Services LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new stake in U.S. Bancorp in the fourth quarter worth approximately $26,000. Planned Solutions Inc. acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $27,000. Naples Money Management LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $39.97 on Wednesday. The company has a market capitalization of $62.37 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 3.82 and a beta of 1.04. The company has a 50-day moving average of $40.32 and a 200-day moving average of $41.65. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.90%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Jefferies Financial Group raised their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Barclays lowered their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. DA Davidson dropped their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.02.

About U.S. Bancorp

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.