U.S. Bancorp (USB) Shares Bought by CIBC World Markets Inc.
CIBC World Markets Inc. grew its stake in U.S. Bancorp (NYSE:USB) by 25.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,467 shares of the financial services provider’s stock after buying an additional 8,630 shares during the period. CIBC World Markets Inc.’s holdings in U.S. Bancorp were worth $2,046,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in U.S. Bancorp by 12.9% in the 4th quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock valued at $1,259,651,000 after purchasing an additional 3,143,660 shares during the last quarter. Northern Trust Corp raised its position in U.S. Bancorp by 2.9% in the 4th quarter. Northern Trust Corp now owns 20,129,830 shares of the financial services provider’s stock valued at $919,933,000 after purchasing an additional 561,261 shares during the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after purchasing an additional 1,285,265 shares during the last quarter. Bank of New York Mellon Corp raised its position in U.S. Bancorp by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 16,427,901 shares of the financial services provider’s stock valued at $750,754,000 after purchasing an additional 465,927 shares during the last quarter. Finally, Norges Bank purchased a new stake in U.S. Bancorp in the 4th quarter valued at $723,318,000. Institutional investors and hedge funds own 74.65% of the company’s stock.
Several analysts recently commented on USB shares. Oppenheimer upped their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.33.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.00. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.29 earnings per share for the current fiscal year.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $51.53, for a total transaction of $647,422.92. Following the transaction, the insider now owns 39,330 shares of the company’s stock, valued at approximately $2,026,674.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,233 shares of company stock valued at $1,907,734. 0.24% of the stock is owned by insiders.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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