Healthcare of Ontario Pension Plan Trust Fund Has $66.87 Million Holdings in U.S. Bancorp (NYSE:USB)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in U.S. Bancorp (NYSE:USB) by 94.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,684,400 shares of the financial services provider’s stock after acquiring an additional 817,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in U.S. Bancorp were worth $66,871,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the first quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp during the second quarter worth about $30,000. Eagle Bay Advisors LLC raised its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter worth about $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.5 %

Shares of NYSE:USB opened at $44.25 on Thursday. The stock has a market cap of $69.05 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 3.06 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The business’s 50 day moving average is $44.51 and its 200 day moving average is $42.43.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has authorized a stock buyback program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.52%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on USB shares. DA Davidson raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.65.

U.S. Bancorp Company Profile

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.