TD Asset Management Inc. Decreases Stake in U.S. Bancorp (NYSE:USB)
TD Asset Management Inc. reduced its stake in U.S. Bancorp (NYSE:USB) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,121,151 shares of the financial services provider’s stock after selling 21,148 shares during the quarter. TD Asset Management Inc. owned about 0.07% of U.S. Bancorp worth $58,749,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in USB. Northern Trust Corp grew its stake in shares of U.S. Bancorp by 0.9% during the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock worth $979,228,000 after purchasing an additional 190,324 shares during the period. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after purchasing an additional 1,285,265 shares during the period. Daily Journal Corp grew its stake in shares of U.S. Bancorp by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after purchasing an additional 13,860,000 shares during the period. Janus Henderson Group PLC grew its stake in shares of U.S. Bancorp by 2.4% during the 2nd quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after purchasing an additional 310,818 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of U.S. Bancorp by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock worth $540,070,000 after purchasing an additional 195,579 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.
In other U.S. Bancorp news, EVP Mark G. Runkel sold 10,986 shares of U.S. Bancorp stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $57.32, for a total value of $629,717.52. Following the completion of the transaction, the executive vice president now directly owns 45,213 shares of the company’s stock, valued at approximately $2,591,609.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,414 shares of company stock valued at $2,297,215. 0.24% of the stock is currently owned by corporate insiders.
Shares of NYSE USB traded up $0.53 during trading on Thursday, hitting $51.43. 138,435 shares of the company were exchanged, compared to its average volume of 6,377,645. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $57.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. The company’s fifty day moving average is $54.11. The stock has a market cap of $82.31 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.73 and a beta of 1.06.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. On average, analysts anticipate that U.S. Bancorp will post 4.31 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, June 27th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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