TD Waterhouse Canada Inc. Trims Stock Position in U.S. Bancorp $USB

TD Waterhouse Canada Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 168,862 shares of the financial services provider’s stock after selling 13,618 shares during the period. TD Waterhouse Canada Inc.’s holdings in U.S. Bancorp were worth $7,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $27,000. Pineridge Advisors LLC lifted its holdings in shares of U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $56.35 on Friday. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.00 and a beta of 1.07. The firm’s fifty day simple moving average is $53.37 and its 200-day simple moving average is $49.33. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $56.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Wall Street Analyst Weigh In

A number of research analysts have commented on USB shares. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, October 23rd. DA Davidson lifted their target price on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Citigroup increased their price target on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Evercore ISI set a $60.00 price objective on shares of U.S. Bancorp in a report on Tuesday, January 6th. Finally, Oppenheimer upped their target price on shares of U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.19.

U.S. Bancorp Company Profile

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.