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

Key Points

• IFM Investors Pty Ltd boosted its stake in U.S. Bancorp by 13.9% in the first quarter, buying 43,496 additional shares for a total holding of 357,395 shares worth about $18.6 million.
• U.S. Bancorp reported better-than-expected quarterly results, with EPS of $1.18 versus the $1.14 estimate and revenue of $7.32 billion, while analysts now expect full-year EPS of 5.09.
• The bank also announced a quarterly dividend of $0.52 per share, equal to an annualized yield of about 3.4%, while analysts maintain a consensus rating of Moderate Buy.

IFM Investors Pty Ltd increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 357,395 shares of the financial services provider's stock after purchasing an additional 43,496 shares during the period. IFM Investors Pty Ltd's holdings in U.S. Bancorp were worth $18,588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $1,887,497,000. Auto Owners Insurance Co boosted its stake in shares of U.S. Bancorp by 5,236.0% in 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 acquiring an additional 32,725,000 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $296,377,000. SG Americas Securities LLC raised its stake in U.S. Bancorp by 3,451.9% in the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock valued at $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider's stock valued at $1,329,683,000 after purchasing an additional 4,153,080 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. Barclays upped their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Truist Financial raised their price target on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, DA Davidson restated a "buy" rating and set a $65.00 target price on shares of U.S. Bancorp in a 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.57.

U.S. Bancorp Trading Down 1.3%

Shares of USB stock opened at $60.46 on Wednesday. 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 company's 50-day moving average price is $56.28 and its 200-day moving average price is $55.34. The stock has a market cap of $93.78 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.06 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. During the same period last year, the business earned $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 predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was 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 owned 51,292 shares of the company's stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

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.

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