TD Asset Management Inc Has $40.84 Million Position in U.S. Bancorp $USB

TD Asset Management Inc grew its stake in shares of U.S. Bancorp (NYSE:USB) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 765,366 shares of the financial services provider’s stock after buying an additional 20,738 shares during the period. TD Asset Management Inc’s holdings in U.S. Bancorp were worth $40,840,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in USB. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the third quarter valued at about $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at about $25,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter valued at about $28,000. Binnacle Investments Inc raised its position in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of U.S. Bancorp by 93.3% during the third quarter. Westside Investment Management Inc. now owns 663 shares of the financial services provider’s stock valued at $32,000 after buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $55.70 on Friday. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $86.39 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The firm has a 50-day moving average price of $54.71 and a 200 day moving average price of $54.16.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Analyst Ratings Changes

A number of research analysts have recently commented on USB shares. DA Davidson reaffirmed a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.20.

Insider Activity

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp 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.