iSAM Funds UK Ltd Takes $4.56 Million Position in U.S. Bancorp $USB

iSAM Funds UK Ltd purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 94,262 shares of the financial services provider’s stock, valued at approximately $4,556,000. U.S. Bancorp accounts for approximately 0.9% of iSAM Funds UK Ltd’s portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after purchasing an additional 1,279,104 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $971,285,000. Davis Selected Advisers grew its position in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of U.S. Bancorp by 7.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after buying an additional 1,189,525 shares during the period. Finally, Invesco Ltd. increased its stake in shares of U.S. Bancorp by 4.5% in the 3rd quarter. Invesco Ltd. now owns 16,320,086 shares of the financial services provider’s stock worth $788,750,000 after acquiring an additional 706,729 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on USB shares. Keefe, Bruyette & Woods lifted their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Truist Financial upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $61.00 to $66.00 in a report on Thursday, February 26th. DA Davidson boosted their price target on U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, UBS Group restated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Price Performance

Shares of USB opened at $51.00 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The company has a market capitalization of $79.17 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. The firm has a 50 day moving average of $55.86 and a 200 day moving average of $51.58. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same period last year, the business posted $1.07 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

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.