South Dakota Investment Council Acquires 14,770 Shares of U.S. Bancorp (NYSE:USB)

South Dakota Investment Council lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 656,209 shares of the financial services provider's stock after purchasing an additional 14,770 shares during the quarter. U.S. Bancorp accounts for approximately 0.6% of South Dakota Investment Council's portfolio, making the stock its 26th largest holding. South Dakota Investment Council's holdings in U.S. Bancorp were worth $27,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $777,524,000. Invesco Ltd. increased its stake in U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the period. Marshall Wace LLP increased its stake in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. FMR LLC increased its stake in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Finally, Northern Trust Corp increased its stake in U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.51 on Friday, hitting $45.72. The company's stock had a trading volume of 15,539,613 shares, compared to its average volume of 9,483,789. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a market capitalization of $71.23 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. The stock's 50-day moving average is $44.82 and its two-hundred day moving average is $44.27. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the business's stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director owned 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on USB. Truist Financial upped their price target on U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Oppenheimer boosted their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday. Keefe, Bruyette & Woods cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.36.

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.