State of Michigan Retirement System increased its position in shares of U.S. Bancorp (NYSE:USB – Free Report) 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 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.
Check Out Our Latest Research Report on USB
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.
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