IFM Investors Pty Ltd Boosts Stock Position in U.S. Bancorp (NYSE:USB)

IFM Investors Pty Ltd grew its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,377 shares of the financial services provider’s stock after buying an additional 2,756 shares during the period. IFM Investors Pty Ltd’s holdings in U.S. Bancorp were worth $13,965,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on USB. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a report on Thursday, June 27th. Oppenheimer boosted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays boosted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lowered their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.72.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $48.45 on Friday. The stock’s fifty day moving average is $45.61 and its two-hundred day moving average is $42.77. The company has a market capitalization of $75.60 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 EPS. As a group, analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

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.