TD Asset Management Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,561,948 shares of the financial services provider’s stock after selling 482,777 shares during the period. TD Asset Management Inc. owned 0.09% of U.S. Bancorp worth $81,096,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. New England Asset Management Inc. increased its stake in shares of U.S. Bancorp by 52.5% during the 1st quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after purchasing an additional 9,150,126 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt increased its stake in shares of U.S. Bancorp by 1,130.0% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after purchasing an additional 2,260,000 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of U.S. Bancorp by 54.2% during the 1st quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after purchasing an additional 1,652,219 shares during the last quarter. First Trust Advisors LP increased its stake in shares of U.S. Bancorp by 276.0% during the 1st quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock worth $110,089,000 after purchasing an additional 1,569,154 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $60,650,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.

U.S. Bancorp (NYSE:USB) opened at 53.15 on Thursday. The company has a market capitalization of $88.91 billion, a P/E ratio of 16.06 and a beta of 0.87. U.S. Bancorp has a one year low of $42.37 and a one year high of $56.61. The firm has a 50-day moving average of $52.23 and a 200 day moving average of $51.99.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post $3.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.30 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.26%. U.S. Bancorp’s dividend payout ratio is 36.04%.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $2.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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USB has been the subject of several research analyst reports. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, July 20th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Instinet lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $57.00 to $55.00 in a research note on Thursday, September 28th. Jefferies Group LLC restated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Finally, Wells Fargo & Company initiated coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $53.07.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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