CIBC Asset Management Inc Purchases 153,562 Shares of U.S. Bancorp $USB

CIBC Asset Management Inc grew its position in shares of U.S. Bancorp (NYSE:USB) by 44.8% in the 4th quarter, HoldingsChannel reports. The firm owned 496,276 shares of the financial services provider’s stock after acquiring an additional 153,562 shares during the quarter. CIBC Asset Management Inc’s holdings in U.S. Bancorp were worth $26,481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in USB. Financial Life Planners bought a new stake in U.S. Bancorp during the third quarter worth about $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the third quarter worth about $28,000. Binnacle Investments Inc lifted its stake in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of U.S. Bancorp by 93.3% in the 3rd quarter. Westside Investment Management Inc. now owns 663 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of recent research reports. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. Barclays boosted their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Evercore boosted their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.20.

U.S. Bancorp Trading Down 2.6%

USB opened at $53.18 on Thursday. The business has a 50 day simple moving average of $54.57 and a two-hundred day simple moving average of $54.09. The firm has a market capitalization of $82.49 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.98 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $42.55 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

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.