Cibc World Markets Corp Has $11.77 Million Holdings in U.S. Bancorp (NYSE:USB)

Cibc World Markets Corp lowered its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,154 shares of the financial services provider's stock after selling 56,195 shares during the period. Cibc World Markets Corp's holdings in U.S. Bancorp were worth $11,774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Brooklyn Investment Group lifted 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 worth $219,000 after acquiring an additional 201 shares in the last quarter. Capital Performance Advisors LLP lifted its position in shares of 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 worth $392,000 after purchasing an additional 210 shares in the last quarter. HCR Wealth Advisors lifted its position in shares of 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 worth $962,000 after purchasing an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC boosted its holdings in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock worth $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank increased its stake in U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock valued at $591,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on USB shares. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group reduced 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. Finally, Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $53.93.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,451 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction 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. This trade represents a 23.11 % 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 90 days. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.16 during trading hours on Friday, hitting $42.77. 68,994,944 shares of the stock were exchanged, compared to its average volume of 10,983,830. The stock has a market capitalization of $66.63 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.73 and a beta of 1.02. The business's 50-day moving average is $46.40 and its two-hundred day moving average is $47.66. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.68%. U.S. Bancorp's dividend payout ratio (DPR) is 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.