TD Waterhouse Canada Inc. Reduces Holdings in U.S. Bancorp $USB

TD Waterhouse Canada Inc. cut its stake in U.S. Bancorp (NYSE:USB) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,862 shares of the financial services provider’s stock after selling 13,618 shares during the period. TD Waterhouse Canada Inc.’s holdings in U.S. Bancorp were worth $7,662,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in USB. Brighton Jones LLC boosted its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC increased its position in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the period. Intech Investment Management LLC lifted its stake in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $425,000. Finally, Sound Income Strategies LLC grew its position in shares of U.S. Bancorp by 78.3% during the second quarter. Sound Income Strategies LLC now owns 1,218 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.1%

U.S. Bancorp stock opened at $56.35 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $56.70. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The stock’s fifty day moving average is $53.37 and its two-hundred day moving average is $49.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USB. TD Cowen upped their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. HSBC reaffirmed a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Wednesday, January 7th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.19.

U.S. Bancorp Company 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.