Healthcare of Ontario Pension Plan Trust Fund Grows Position in U.S. Bancorp $USB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its U.S. Bancorp stake by 325.2% in the fourth quarter, buying over 1.2 million additional shares and bringing its holdings to 1.6 million shares worth about $85.5 million.
• Analyst sentiment remains mixed but generally positive: U.S. Bancorp has an average rating of “Moderate Buy” with an average price target of $61.20, though some firms recently cut ratings or trimmed targets.
• The bank reported solid quarterly results, with EPS of $1.18 topping estimates and revenue of $7.32 billion also exceeding expectations; the stock last traded at $58.90, near its 52-week high.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 325.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,601,449 shares of the financial services provider's stock after purchasing an additional 1,224,845 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.10% of U.S. Bancorp worth $85,453,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Paulson Wealth Management Inc. boosted its holdings in shares of U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock valued at $469,000 after acquiring an additional 173 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 184 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of U.S. Bancorp by 1.4% in the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock valued at $732,000 after acquiring an additional 186 shares during the last quarter. Genesis Private Wealth LLC boosted its holdings in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after acquiring an additional 187 shares during the last quarter. Finally, Richmond Investment Services LLC boosted its holdings in shares of U.S. Bancorp by 1.9% in the 4th quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on USB. JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a report on Thursday, April 30th. Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Wall Street Zen cut shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Barclays boosted their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Finally, Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Stock Performance

USB opened at $58.90 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $55.25 and a 200 day moving average price of $54.58. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The stock has a market cap of $91.37 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.07 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating 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 in the previous year, the business posted $1.03 EPS. The business's revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 5.07 earnings per share for the current year.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company's stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp 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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