IFM Investors Pty Ltd Raises Stock Holdings in U.S. Bancorp $USB

Key Points

• IFM Investors Pty Ltd increased its stake in U.S. Bancorp by 6.5%, owning 295,557 shares valued at approximately $13.37 million after acquiring an additional 18,057 shares in the second quarter.
• U.S. Bancorp's stock is currently rated as a "Moderate Buy" with a consensus price target of $52.88, following multiple upgrades from various analysts.
• The company announced a quarterly dividend increase from $0.50 to $0.52 per share, providing an annualized yield of 4.1%, to be paid on October 15th.

IFM Investors Pty Ltd boosted its position in U.S. Bancorp (NYSE:USB - Free Report) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,557 shares of the financial services provider's stock after buying an additional 18,057 shares during the quarter. IFM Investors Pty Ltd's holdings in U.S. Bancorp were worth $13,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in USB. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. Amundi increased its holdings in U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock valued at $773,268,000 after purchasing an additional 422,050 shares during the period. Davis Selected Advisers increased its holdings in U.S. Bancorp by 3.6% during the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after purchasing an additional 513,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in U.S. Bancorp by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider's stock valued at $535,312,000 after purchasing an additional 104,185 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Evercore ISI upped their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Finally, Truist Financial upped their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the company a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.88.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $50.34 on Friday. The company has a market capitalization of $78.34 billion, a PE ratio of 12.04, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a 50 day moving average price of $47.06 and a 200-day moving average price of $44.14. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company posted $0.98 earnings per share. U.S. Bancorp's revenue was up 2.0% compared to the same quarter last year. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.52 per share. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 30th. U.S. Bancorp's payout ratio is presently 47.85%.

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.

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