Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in U.S. Bancorp (NYSE:USB)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in U.S. Bancorp (NYSE:USB) by 109.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,531,400 shares of the financial services provider’s stock after acquiring an additional 1,847,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.23% of U.S. Bancorp worth $161,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. SVB Wealth LLC grew its stake in U.S. Bancorp by 5.9% in the 1st quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 622 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Dynasty Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $292,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of U.S. Bancorp by 17.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 56,020 shares of the financial services provider’s stock valued at $2,504,000 after purchasing an additional 8,176 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $52.02.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $53.66 on Wednesday. The company has a 50-day moving average of $47.99 and a 200-day moving average of $44.23. The company has a market capitalization of $83.71 billion, a P/E ratio of 16.41, a PEG ratio of 3.16 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $53.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. Equities analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.73%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About U.S. Bancorp

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.