CIBC Private Wealth Group LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,787,398 shares of the financial services provider’s stock after buying an additional 44,662 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.17% of U.S. Bancorp worth $139,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of USB. SFE Investment Counsel lifted its stake in U.S. Bancorp by 20.6% during the second quarter. SFE Investment Counsel now owns 41,785 shares of the financial services provider’s stock worth $2,090,000 after purchasing an additional 7,145 shares during the last quarter. CT Mason lifted its stake in U.S. Bancorp by 51.0% during the first quarter. CT Mason now owns 46,665 shares of the financial services provider’s stock worth $2,357,000 after purchasing an additional 15,765 shares during the last quarter. Parallel Advisors LLC lifted its stake in U.S. Bancorp by 24.5% during the second quarter. Parallel Advisors LLC now owns 12,749 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 2,505 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in U.S. Bancorp by 49.6% during the first quarter. Providence Capital Advisors LLC now owns 37,654 shares of the financial services provider’s stock worth $1,902,000 after purchasing an additional 12,488 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt lifted its stake in U.S. Bancorp by 12.2% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,140,000 shares of the financial services provider’s stock worth $207,041,000 after purchasing an additional 450,000 shares during the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

Several research firms have weighed in on USB. ValuEngine cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Susquehanna Bancshares set a $57.00 target price on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, April 23rd. Wedbush restated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Morgan Stanley cut their target price on U.S. Bancorp from $61.00 to $57.00 and set an “underweight” rating for the company in a research note on Thursday, April 19th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, May 11th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.58.

In other news, Vice Chairman John R. Elmore sold 58,924 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the completion of the transaction, the insider now directly owns 98,371 shares in the company, valued at approximately $5,086,764.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

Shares of U.S. Bancorp opened at $53.48 on Friday, according to Marketbeat Ratings. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50. The firm has a market capitalization of $86.23 billion, a PE ratio of 15.64, a PEG ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The company had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the company earned $0.25 EPS. U.S. Bancorp’s revenue was up 3.5% compared to the same quarter last year. analysts expect that U.S. Bancorp will post 4.05 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, June 28th. U.S. Bancorp’s payout ratio is 35.09%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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