TD Private Client Wealth LLC Increases Holdings in U.S. Bancorp (NYSE:USB)

TD Private Client Wealth LLC raised its stake in U.S. Bancorp (NYSE:USB - Free Report) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,657 shares of the financial services provider's stock after acquiring an additional 13,578 shares during the period. TD Private Client Wealth LLC's holdings in U.S. Bancorp were worth $9,176,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp during the second quarter valued at $25,000. Frazier Financial Advisors LLC grew its position in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after acquiring an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the second quarter worth about $30,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in U.S. Bancorp during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 0.5 %

Shares of NYSE:USB traded down $0.25 on Wednesday, reaching $51.32. The company had a trading volume of 7,841,199 shares, compared to its average volume of 8,231,673. The firm has a market capitalization of $80.06 billion, a PE ratio of 15.76, a PEG ratio of 3.08 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm's 50 day simple moving average is $49.38 and its 200-day simple moving average is $45.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp's payout ratio is presently 61.16%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 11th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.27.

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.