Canada Pension Plan Investment Board Sells 40,225 Shares of U.S. Bancorp (NYSE:USB)

Canada Pension Plan Investment Board decreased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,848 shares of the financial services provider's stock after selling 40,225 shares during the quarter. Canada Pension Plan Investment Board's holdings in U.S. Bancorp were worth $8,028,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth about $777,524,000. Invesco Ltd. lifted its holdings in U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. boosted its position in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the period. Marshall Wace LLP grew its holdings in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $184,733,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on USB shares. Bank of America decreased their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Raymond James reiterated an "outperform" rating and issued a $51.00 price objective (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Oppenheimer raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, January 17th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.66.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last three months. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded down $0.15 during mid-day trading on Friday, reaching $39.90. 6,432,743 shares of the stock were exchanged, compared to its average volume of 9,062,328. The company has a market cap of $62.16 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a 50-day simple moving average of $41.71 and a 200 day simple moving average of $46.59.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $0.78 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.01%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

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.