Ontario Teachers Pension Plan Board Buys 7,390 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in U.S. Bancorp by 147.7% during the first quarter, owning a total of 12,393 shares valued at $523,000 as per its latest SEC filing.
• Research analysts have recently revised their price targets for U.S. Bancorp, with Morgan Stanley raising its objective from $51.00 to $52.00, indicating a generally positive outlook with an average rating of "Moderate Buy".
• U.S. Bancorp reported an EPS of $1.11 for the last quarter, exceeding analyst estimates, and announced a quarterly dividend of $0.50 with an annualized dividend yield of 4.5%.

Ontario Teachers Pension Plan Board lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 147.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,393 shares of the financial services provider's stock after buying an additional 7,390 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in U.S. Bancorp were worth $523,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of USB. Covestor Ltd raised its position in shares of U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after acquiring an additional 214 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in U.S. Bancorp by 2.3% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after buying an additional 231 shares during the last quarter. CoreCap Advisors LLC grew its stake in U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after buying an additional 242 shares during the last quarter. Bestgate Wealth Advisors LLC grew its stake in U.S. Bancorp by 3.3% during the 1st quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after buying an additional 253 shares during the last quarter. Finally, Atlantic Family Wealth LLC grew its stake in U.S. Bancorp by 4.2% during the 1st quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider's stock worth $266,000 after buying an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Down 0.1%

Shares of USB stock traded down $0.05 on Thursday, hitting $46.56. The stock had a trading volume of 3,176,741 shares, compared to its average volume of 10,676,953. The firm has a market cap of $72.45 billion, a P/E ratio of 11.15, a PEG ratio of 1.43 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a fifty day moving average price of $45.37 and a two-hundred day moving average price of $43.90.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.3%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on USB shares. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. Morgan Stanley boosted their price target on U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Oppenheimer upped their target price on U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada decreased their target price on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp 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.