U.S. Bancorp $USB Stake Lessened by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,711 shares of the financial services provider’s stock after selling 16,118 shares during the period. CIBC Private Wealth Group LLC’s holdings in U.S. Bancorp were worth $7,139,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prana Capital Management LP boosted its stake in U.S. Bancorp by 1.2% during the 3rd quarter. Prana Capital Management LP now owns 2,519,210 shares of the financial services provider’s stock valued at $121,753,000 after purchasing an additional 29,161 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth $10,380,000. Centaurus Financial Inc. acquired a new stake in shares of U.S. Bancorp in the third quarter valued at $106,000. Faithward Advisors LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at $235,000. Finally, Sunbelt Securities Inc. boosted its stake in U.S. Bancorp by 5.8% during the third quarter. Sunbelt Securities Inc. now owns 18,201 shares of the financial services provider’s stock valued at $880,000 after buying an additional 995 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $51.28 on Friday. The stock has a market cap of $79.60 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.87 and a beta of 1.04. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. 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 business’s 50-day simple moving average is $55.44 and its 200 day simple moving average is $51.67.

U.S. Bancorp (NYSE:USB) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) 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 period in the prior year, the company posted $1.07 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

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

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were 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 of the company’s stock, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Evercore boosted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. DA Davidson raised 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. Finally, Royal Bank Of Canada lifted 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 report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $60.02.

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.