Toronto Dominion Bank Sells 292,381 Shares of U.S. Bancorp (NYSE:USB)

Toronto Dominion Bank lessened its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 35.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 524,579 shares of the financial services provider's stock after selling 292,381 shares during the period. Toronto Dominion Bank's holdings in U.S. Bancorp were worth $23,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after buying an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $33,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $40,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Down 0.1 %

USB traded down $0.04 during midday trading on Friday, reaching $51.06. 6,426,767 shares of the company's stock traded hands, compared to its average volume of 8,221,553. The stock has a market capitalization of $79.66 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a fifty day moving average of $49.67 and a two-hundred day moving average of $45.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

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

U.S. Bancorp declared that its board has initiated a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp's dividend payout ratio is currently 61.16%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company's stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Stephens upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Citigroup raised U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Hold" and an average price target of $53.27.

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.