TD Asset Management Inc Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• TD Asset Management Inc reduced its position in U.S. Bancorp by 3.2% in Q1, retaining 775,411 shares valued at approximately $32.74 million.
• Analysts have mixed ratings for U.S. Bancorp, with price targets varying from $41.00 to $61.00 and a consensus rating of "Moderate Buy."
• U.S. Bancorp recently declared a quarterly dividend of $0.50 per share, reflecting an annualized dividend yield of 4.34%.

TD Asset Management Inc reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 775,411 shares of the financial services provider's stock after selling 25,288 shares during the period. TD Asset Management Inc's holdings in U.S. Bancorp were worth $32,738,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares in the last quarter. Marshall Wace LLP boosted its stake in U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares in the last quarter. FMR LLC boosted its stake in U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. Northern Trust Corp boosted its stake in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after purchasing an additional 1,670,305 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in U.S. Bancorp by 4,160.7% in the 1st quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock worth $65,340,000 after purchasing an additional 1,511,293 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock traded down $1.04 during trading hours on Friday, hitting $43.92. The stock had a trading volume of 4,755,017 shares, compared to its average volume of 10,881,036. The firm has a market capitalization of $68.42 billion, a PE ratio of 10.51, a PEG ratio of 1.44 and a beta of 0.99. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock's 50 day moving average is $45.15 and its 200 day moving average is $44.15. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.6%. U.S. Bancorp's dividend payout ratio (DPR) is currently 47.85%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares of the company's stock, valued at $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

USB has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Morgan Stanley lifted their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Oppenheimer raised their target price on shares of U.S. Bancorp from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.55.

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.