Cibc World Markets Corp Trims Holdings in U.S. Bancorp (NYSE:USB)

Cibc World Markets Corp lowered its position in shares of U.S. Bancorp (NYSE:USB) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 246,154 shares of the financial services provider’s stock after selling 56,195 shares during the quarter. Cibc World Markets Corp’s holdings in U.S. Bancorp were worth $11,774,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 201 shares during the last quarter. Capital Performance Advisors LLP raised its holdings in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after buying an additional 210 shares during the period. HCR Wealth Advisors raised its holdings in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after buying an additional 211 shares during the period. Priebe Wealth Holdings LLC raised its holdings in U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after buying an additional 215 shares during the period. Finally, Essex Savings Bank raised its stake in shares of U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Oppenheimer boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 0.4 %

NYSE:USB opened at $42.19 on Tuesday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $65.72 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The business’s 50-day simple moving average is $46.76 and its 200-day simple moving average is $47.76.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $0.99 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

About U.S. Bancorp

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.