Toronto Dominion Bank lifted its position in U.S. Bancorp (NYSE:USB) by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,086,126 shares of the financial services provider’s stock after purchasing an additional 125,079 shares during the quarter. Toronto Dominion Bank’s holdings in U.S. Bancorp were worth $52,326,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of USB. Norges Bank acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at $723,318,000. Oregon Public Employees Retirement Fund raised its stake in shares of U.S. Bancorp by 4,346.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,619,515 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 7,448,158 shares in the last quarter. FMR LLC raised its stake in shares of U.S. Bancorp by 12.9% in the fourth quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock valued at $1,259,651,000 after purchasing an additional 3,143,660 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at $81,175,000. Finally, Morgan Stanley raised its stake in shares of U.S. Bancorp by 32.7% in the third quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after purchasing an additional 1,358,026 shares in the last quarter. Institutional investors and hedge funds own 75.98% of the company’s stock.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $53.14, for a total value of $248,110.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total value of $647,422.92. Following the completion of the sale, the insider now owns 39,330 shares in the company, valued at $2,026,674.90. The disclosure for this sale can be found here. Insiders sold 37,233 shares of company stock worth $1,907,734 over the last quarter. Company insiders own 0.24% of the company’s stock.
A number of brokerages recently commented on USB. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Robert W. Baird lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price for the company. in a research note on Monday, January 28th. Finally, Oppenheimer upped their target price on U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $58.33.
Shares of NYSE:USB opened at $51.56 on Friday. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $55.56. The firm has a market capitalization of $82.09 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.00. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 4.29 EPS for the current fiscal year.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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