Cibc World Market Inc. Increases Stake in U.S. Bancorp $USB

Cibc World Market Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 36.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 284,274 shares of the financial services provider’s stock after acquiring an additional 76,159 shares during the quarter. Cibc World Market Inc.’s holdings in U.S. Bancorp were worth $13,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in U.S. Bancorp during the second quarter valued at $971,285,000. Davis Selected Advisers increased its position in U.S. Bancorp by 29.8% in the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of U.S. Bancorp by 1,589.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after buying an additional 3,266,724 shares during the period. AQR Capital Management LLC lifted its position in shares of U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after buying an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE USB opened at $57.82 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19. The business has a 50 day simple moving average of $55.30 and a two-hundred day simple moving average of $50.23. The stock 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 posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.31 billion. During the same period in the prior year, the company earned $1.07 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on USB. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. Evercore raised their price objective on shares of 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.79.

U.S. Bancorp 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.