Ontario Teachers Pension Plan Board Takes Position in U.S. Bancorp (NYSE:USB)

Ontario Teachers Pension Plan Board bought a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,003 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. FIL Ltd boosted its holdings in shares of U.S. Bancorp by 42.0% during the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 8,542 shares during the period. International Assets Investment Management LLC acquired a new position in U.S. Bancorp during the 4th quarter worth $1,018,000. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp grew its position in shares of U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock valued at $55,427,000 after purchasing an additional 312,504 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $38.21 on Friday. The firm has a market cap of $59.53 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.73 and a beta of 0.91. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The company has a 50 day moving average of $42.73 and a 200-day moving average of $46.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.23%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on USB shares. Morgan Stanley lowered their target price on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial dropped their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Citigroup cut their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $50.66.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.