Cibc World Market Inc. Raises Stock Holdings in U.S. Bancorp $USB

Cibc World Market Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 36.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,274 shares of the financial services provider’s stock after buying an additional 76,159 shares during the period. Cibc World Market Inc.’s holdings in U.S. Bancorp were worth $13,739,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caprock Group LLC purchased a new stake in U.S. Bancorp in the third quarter worth about $2,998,000. Krilogy Financial LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $759,000. Advisors Asset Management Inc. grew its stake in shares of U.S. Bancorp by 3.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 47,216 shares of the financial services provider’s stock worth $2,282,000 after buying an additional 1,562 shares during the last quarter. Vision Financial Markets LLC increased its position in U.S. Bancorp by 551.4% during the 3rd quarter. Vision Financial Markets LLC now owns 2,130 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,803 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. raised its stake in U.S. Bancorp by 1.7% during the third quarter. Signet Investment Advisory Group Inc. now owns 94,596 shares of the financial services provider’s stock valued at $4,572,000 after buying an additional 1,539 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $57.82 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $55.30 and a 200-day moving average price of $50.23. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The firm has a market capitalization of $89.87 billion, a PE ratio of 12.51, a P/E/G ratio of 1.06 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s payout ratio is presently 45.02%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on USB shares. The Goldman Sachs Group set a $52.00 target price on U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Royal Bank Of Canada upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial raised their price objective on shares of U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. Citigroup lifted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.