U.S. Bancorp (NYSE:USB) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 22.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 329,245 shares of the financial services provider’s stock after acquiring an additional 59,284 shares during the period. Canada Pension Plan Investment Board’s holdings in U.S. Bancorp were worth $13,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Valmark Advisers Inc. increased its position in shares of U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC increased its holdings in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC raised its position in U.S. Bancorp by 0.4% during the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the period. Kavar Capital Partners Group LLC lifted its holdings in U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 250 shares in the last quarter. Finally, STAR Financial Bank grew its position in shares of U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on USB shares. Citigroup upped their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research note on Thursday, June 27th. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group reduced their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $48.18.

Insiders Place Their Bets

In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.86 on Tuesday. The firm has a market cap of $71.56 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 4.36 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 52 week low of $30.47 and a 52 week high of $47.31. The business’s fifty day simple moving average is $44.46 and its 200-day simple moving average is $42.33.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. Equities analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced 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. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp 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.