U.S. Bancorp (USB) Shares Bought by Bank of Montreal Can
Bank of Montreal Can increased its stake in shares of U.S. Bancorp (NYSE:USB) by 25.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,310,523 shares of the financial services provider’s stock after buying an additional 681,814 shares during the period. Bank of Montreal Can owned about 0.20% of U.S. Bancorp worth $174,829,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in USB. Bank of New York Mellon Corp raised its position in U.S. Bancorp by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after acquiring an additional 2,071,326 shares during the last quarter. BTIM Corp. acquired a new position in U.S. Bancorp during the second quarter worth about $78,408,000. Chevy Chase Trust Holdings Inc. acquired a new position in U.S. Bancorp during the second quarter worth about $72,386,000. Cornerstone Wealth Management LLC raised its position in U.S. Bancorp by 5,122.1% during the second quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock worth $22,487,000 after acquiring an additional 1,111,912 shares during the last quarter. Finally, Gateway Investment Advisers LLC acquired a new position in U.S. Bancorp during the second quarter worth about $52,894,000. Institutional investors own 74.29% of the company’s stock.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the transaction, the insider now owns 98,371 shares of the company’s stock, valued at $5,086,764.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.43% of the company’s stock.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. U.S. Bancorp had a net margin of 26.96% and a return on equity of 14.66%. The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.37 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.91%. U.S. Bancorp’s dividend payout ratio is 43.27%.
USB has been the subject of a number of research reports. ValuEngine upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Finally, Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $62.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $59.72.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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