CIBC Asset Management Inc Has $22.17 Million Holdings in U.S. Bancorp (NYSE:USB)

CIBC Asset Management Inc lifted its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 484,791 shares of the financial services provider's stock after purchasing an additional 38,258 shares during the quarter. CIBC Asset Management Inc's holdings in U.S. Bancorp were worth $22,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Blair William & Co. IL raised its stake in shares of U.S. Bancorp by 14.3% in the 1st quarter. Blair William & Co. IL now owns 196,913 shares of the financial services provider's stock valued at $8,802,000 after buying an additional 24,589 shares in the last quarter. M&G Plc bought a new position in U.S. Bancorp during the first quarter worth about $8,133,000. Pinnacle Wealth Planning Services Inc. boosted its holdings in U.S. Bancorp by 23.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 10,012 shares of the financial services provider's stock valued at $448,000 after purchasing an additional 1,890 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of U.S. Bancorp by 44.6% in the 1st quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider's stock valued at $419,000 after purchasing an additional 2,889 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider's stock worth $6,051,096,000 after buying an additional 502,776 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

USB has been the topic of several recent analyst reports. Evercore ISI boosted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, September 11th. Finally, Oppenheimer boosted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.22.

U.S. Bancorp Trading Down 0.8 %

Shares of USB stock traded down $0.41 on Friday, reaching $49.90. 13,570,863 shares of the stock were exchanged, compared to its average volume of 8,373,090. The stock has a 50 day moving average price of $46.99 and a 200 day moving average price of $43.69. The stock has a market cap of $77.85 billion, a PE ratio of 15.26, a P/E/G ratio of 3.02 and a beta of 1.02. U.S. Bancorp has a one year low of $36.49 and a one year high of $51.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts' expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.01%. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

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.