U.S. Bancorp (NYSE:USB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,888,399 shares of the financial services provider’s stock after selling 94,008 shares during the period. Bank of Montreal Can owned approximately 0.25% of U.S. Bancorp worth $157,947,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Confluence Investment Management LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $92,192,000. National Bank of Canada FI grew its stake in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after buying an additional 1,097,179 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after buying an additional 967,143 shares during the period. Finally, American Century Companies Inc. lifted its holdings in U.S. Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after acquiring an additional 925,073 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on USB shares. DA Davidson lifted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.18.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $45.86 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $71.56 billion, a P/E ratio of 15.19, a PEG ratio of 4.36 and a beta of 1.04. The business has a 50 day simple moving average of $44.46 and a 200-day simple moving average of $42.33. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm posted $1.12 EPS. U.S. Bancorp’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.