State of New Jersey Common Pension Fund D Has $21.94 Million Stock Position in U.S. Bancorp (NYSE:USB)

State of New Jersey Common Pension Fund D trimmed its position in U.S. Bancorp (NYSE:USB) by 35.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 552,640 shares of the financial services provider’s stock after selling 303,404 shares during the period. State of New Jersey Common Pension Fund D’s holdings in U.S. Bancorp were worth $21,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter worth $30,000. Eagle Bay Advisors LLC increased its position in 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. LRI Investments LLC bought a new position in U.S. Bancorp during the first quarter worth $31,000. Finally, Crewe Advisors LLC bought a new position in U.S. Bancorp during the first quarter worth $39,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on USB shares. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research report on Thursday, June 27th. Finally, UBS Group boosted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Down 2.0 %

USB opened at $43.85 on Friday. The firm’s 50-day simple moving average is $43.82 and its 200-day simple moving average is $42.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The firm has a market cap of $68.43 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.56%. U.S. Bancorp’s dividend payout ratio is 64.90%.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by corporate insiders.

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.