U.S. Bancorp $USB Shares Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its U.S. Bancorp stake by 26.8% in the second quarter, bringing its holdings to 168,249 shares valued at approximately $10.4 million. Institutional investors collectively own 77.6% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 16 Buy, and eight Hold ratings. U.S. Bancorp has an average price target of $67.06, compared with shares opening at $63.36.
• U.S. Bancorp beat quarterly earnings expectations, reporting $1.35 in adjusted earnings per share versus the $1.28 consensus, while declaring a $0.52 quarterly dividend that implies a 3.3% annualized yield.

TD Waterhouse Canada Inc. lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 26.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 168,249 shares of the financial services provider's stock after purchasing an additional 35,544 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in U.S. Bancorp were worth $10,429,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares in the last quarter. Empowered Funds LLC increased its position in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after acquiring an additional 714 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after acquiring an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $425,000. Finally, Nebula Research & Development LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $701,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on USB shares. JPMorgan Chase & Co. upped their price target on shares of U.S. Bancorp from $67.50 to $69.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. BTIG Research set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $68.00 target price on shares of U.S. Bancorp in a research note on Monday, August 24th. Finally, CLSA set a $67.50 target price on U.S. Bancorp in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.06.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $63.36 on Friday. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. 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 firm has a market capitalization of $98.72 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.13 and a beta of 0.95. The company's fifty day moving average price is $63.07 and its two-hundred day moving average price is $57.87.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the firm earned $1.11 earnings per share. On average, research analysts anticipate that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 41.52%.

Insider Activity at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company's stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source