State Of New Jersey Common Pension Fund D has $21.94M in US Bancorp (NYSE:USB) shares.

VaselineSeptember 13, 2024

0 4 minutes read

US Bancorp logo State of New Jersey Common Pension Fund D cut its position in US Bancorp (NYSE:USB – Free Report) by 35.4% during 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 US 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. purchased a new stake in shares of US Bancorp in the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of US Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC grew its position in US Bancorp by 93.2% in 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 US Bancorp in the first quarter worth $31,000. Finally, Crewe Advisors LLC bought a new position in US Bancorp in the 1st quarter worth $39,000. 77.60% of the shares are currently owned by institutional investors and hedge funds.

Analysts set new price targets

A number of equities analysts have recently issued reports on USB shares. Wells Fargo & Company upped their target price on shares of US 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 US Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group decreased their price target on shares of US 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. cut shares of US 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 upped their target price on shares of US 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.18.

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US Bancorp shares fell 2.0%

USB opened at $43.85 on Friday. The company’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. US Bancorp has a 12-month low of $30.47 and a 12-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.

US Bancorp (NYSE:USB – Get Free Report ) 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. US Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. In the same quarter last year, the firm earned $1.12 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. equities research analysts anticipate that US Bancorp will post 3.87 EPS for the current fiscal year.

US Bancorp raises dividend

The company 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 US Bancorp’s previous quarterly dividend of $0.49. This represents an annualized dividend of $2.00 and a yield of 4.56%. US Bancorp’s dividend yield is 64.90%.

Insider buying and selling

In related news, Director Aleem Gillani purchased 10,000 shares of US Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were purchased 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 shares are owned by corporate insiders.

US Bancorp Company Profile

(Free Report)

US Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, government entities and other financial institutions in the United States. It works through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; payment services; and the Treasury and Corporate Support segments.