U.S. Bancorp $USB Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in U.S. Bancorp (NYSE:USB) by 13.9% during the first quarter, Holdings Channel.com reports. The fund owned 357,395 shares of the financial services provider’s stock after acquiring an additional 43,496 shares during the period. IFM Investors Pty Ltd’s holdings in U.S. Bancorp were worth $18,588,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co lifted its stake in U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Capital Research Global Investors acquired a new position in U.S. Bancorp during the fourth quarter worth $296,377,000. SG Americas Securities LLC boosted its position in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after buying an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after buying an additional 4,153,080 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on USB shares. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Truist Financial raised their target price on U.S. Bancorp from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, June 26th. Stephens began coverage on U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 target price for the company. Jefferies Financial Group reiterated a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Finally, DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $61.57.

U.S. Bancorp Stock Down 1.3%

U.S. Bancorp stock opened at $60.46 on Wednesday. The firm has a market capitalization of $93.78 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.06 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $61.88. The stock’s fifty day simple moving average is $56.28 and its 200-day simple moving average is $55.34.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period last year, the business posted $1.03 earnings per share. U.S. Bancorp’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.