Healthcare of Ontario Pension Plan Trust Fund Reduces Holdings in U.S. Bancorp $USB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its U.S. Bancorp stake by 17.4% in the first quarter, selling 278,817 shares and leaving it with 1,322,632 shares valued at about $68.8 million.
• U.S. Bancorp reported better-than-expected quarterly results, posting EPS of $1.35 versus the $1.28 estimate on revenue of $7.71 billion, and analysts now expect full-year EPS of 5.22.
• The bank also declared a quarterly dividend of $0.52 per share, equal to an annualized yield of 3.3%, while analysts’ consensus rating remains Moderate Buy with a $67.00 price target.

Healthcare of Ontario Pension Plan Trust Fund decreased its position in U.S. Bancorp (NYSE:USB - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,322,632 shares of the financial services provider's stock after selling 278,817 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of U.S. Bancorp worth $68,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $1,887,497,000. Auto Owners Insurance Co lifted its position in U.S. Bancorp by 5,236.0% during 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 buying an additional 32,725,000 shares during the period. Capital Research Global Investors acquired a new stake in U.S. Bancorp in the 4th quarter worth about $296,377,000. Price T Rowe Associates Inc. MD grew 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 buying an additional 4,153,080 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of U.S. Bancorp by 63.2% during the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider's stock valued at $505,866,000 after acquiring an additional 3,672,742 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

NYSE USB opened at $63.91 on Friday. The firm has a market capitalization of $99.14 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $64.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The business's 50-day simple moving average is $58.89 and its 200-day simple moving average is $56.42.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio is currently 41.52%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on USB. Royal Bank Of Canada raised their target price on shares of U.S. Bancorp from $61.00 to $68.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. Wall Street Zen raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, July 6th. BTIG Research set a $67.50 price target on shares of U.S. Bancorp in a report on Monday, July 20th. Finally, Truist Financial boosted their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.