Canada Pension Plan Investment Board Has $139.96 Million Stake in U.S. Bancorp (USB)

Canada Pension Plan Investment Board lifted its position in shares of U.S. Bancorp (NYSE:USB) by 85.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,695,720 shares of the financial services provider’s stock after acquiring an additional 1,243,200 shares during the quarter. Canada Pension Plan Investment Board owned 0.16% of U.S. Bancorp worth $139,962,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Shelton Capital Management boosted its holdings in U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after buying an additional 45,116 shares in the last quarter. Bank of Montreal Can boosted its holdings in U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after buying an additional 159,319 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 4,683 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in U.S. Bancorp by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after buying an additional 73,504 shares in the last quarter. Finally, New England Asset Management Inc. boosted its holdings in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares in the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

A number of analysts recently commented on USB shares. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, July 20th. Wells Fargo & Company initiated coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.56.

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Shares of U.S. Bancorp (NYSE USB) traded down 0.4325% during trading on Tuesday, reaching $54.0253. 795,694 shares of the company traded hands. The firm has a 50-day moving average price of $52.67 and a 200-day moving average price of $52.05. The firm has a market capitalization of $90.37 billion, a PE ratio of 16.3218 and a beta of 0.87. U.S. Bancorp has a 12 month low of $42.52 and a 12 month high of $56.61.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 EPS. Equities research analysts anticipate that U.S. Bancorp will post $3.42 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.30 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 annualized dividend and a yield of 2.21%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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