CIBC Private Wealth Group LLC Cuts Position in U.S. Bancorp (NYSE:USB)

CIBC Private Wealth Group LLC lowered its position in U.S. Bancorp (NYSE:USB) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,072,059 shares of the financial services provider’s stock after selling 124,455 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.33% of U.S. Bancorp worth $246,096,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $1,018,000. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp increased its holdings in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares during the last quarter. D.A. Davidson & CO. lifted its stake in U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. boosted its holdings in U.S. Bancorp by 29.5% in the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Compass Point boosted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.21.

U.S. Bancorp Trading Down 2.4 %

NYSE USB opened at $42.21 on Friday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm has a 50-day moving average price of $45.74 and a 200 day moving average price of $47.57. The stock has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.