Cibc World Markets Corp Sells 56,195 Shares of U.S. Bancorp (NYSE:USB)

Cibc World Markets Corp trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 18.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 246,154 shares of the financial services provider’s stock after selling 56,195 shares during the quarter. Cibc World Markets Corp’s holdings in U.S. Bancorp were worth $11,774,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Winch Advisory Services LLC lifted its position in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $28,000. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays upped their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley decreased their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.98.

U.S. Bancorp Price Performance

NYSE:USB opened at $42.19 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day moving average of $46.76 and a 200 day moving average of $47.76. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm has a market capitalization of $65.72 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio is currently 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.