CIBC Bancorp USA Inc. Acquires New Stake in U.S. Bancorp $USB

CIBC Bancorp USA Inc. bought a new position in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 214,766 shares of the financial services provider’s stock, valued at approximately $10,380,000.

A number of other large investors have also made changes to their positions in USB. Brighton Jones LLC raised its position in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC grew its position in shares of U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares during the period. Intech Investment Management LLC increased its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter worth $425,000. Finally, NFP Retirement Inc. raised its holdings in U.S. Bancorp by 18.2% in the 2nd quarter. NFP Retirement Inc. now owns 7,963 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 1,228 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Down 0.0%

NYSE:USB opened at $51.28 on Friday. The firm has a 50 day moving average of $55.44 and a 200 day moving average of $51.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The stock has a market capitalization of $79.60 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.87 and a beta of 1.04.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp’s payout ratio is presently 45.02%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Evercore lifted their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods upped their price target on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Oppenheimer raised their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Argus boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, DA Davidson increased their target price on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $60.02.

U.S. Bancorp Company Profile

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.