U.S. Bancorp (NYSE:USB) Stock Position Decreased by Toronto Dominion Bank

Toronto Dominion Bank cut its stake in shares of U.S. Bancorp (NYSE:USB) by 5.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,218,524 shares of the financial services provider’s stock after selling 75,758 shares during the period. Toronto Dominion Bank’s holdings in U.S. Bancorp were worth $69,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Smith Asset Management Group LP increased its stake in U.S. Bancorp by 16.0% in the 1st quarter. Smith Asset Management Group LP now owns 1,187 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 164 shares in the last quarter. RMB Capital Management LLC increased its position in shares of U.S. Bancorp by 0.5% in the first quarter. RMB Capital Management LLC now owns 35,830 shares of the financial services provider’s stock worth $1,982,000 after acquiring an additional 170 shares in the last quarter. Formidable Asset Management LLC increased its position in shares of U.S. Bancorp by 0.6% in the first quarter. Formidable Asset Management LLC now owns 29,326 shares of the financial services provider’s stock worth $1,638,000 after acquiring an additional 170 shares in the last quarter. Eudaimonia Partners LLC raised its holdings in shares of U.S. Bancorp by 5.0% during the first quarter. Eudaimonia Partners LLC now owns 3,771 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 181 shares during the period. Finally, Moody Lynn & Lieberson LLC lifted its position in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 15,516 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 194 shares in the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:USB opened at $55.91 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $82.89 billion, a PE ratio of 11.97, a P/E/G ratio of 1.71 and a beta of 1.14. U.S. Bancorp has a 1 year low of $34.17 and a 1 year high of $62.47. The firm has a fifty day moving average price of $56.53 and a 200 day moving average price of $57.08.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.14. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.29%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. U.S. Bancorp’s dividend payout ratio (DPR) is 54.90%.

Several brokerages have issued reports on USB. Compass Point boosted their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, May 18th. Barclays increased their price objective on U.S. Bancorp from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, July 16th. Credit Suisse Group lifted their target price on U.S. Bancorp from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, August 25th. Oppenheimer increased their price target on shares of U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, July 16th. Finally, Morgan Stanley boosted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $62.37.

U.S. Bancorp Profile

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

Further Reading: Earnings Reports

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

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