U.S. Bancorp $USB Holdings Reduced by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in U.S. Bancorp (NYSE:USB) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 808,140 shares of the financial services provider’s stock after selling 28,867 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of U.S. Bancorp worth $39,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in USB. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after buying an additional 1,279,104 shares in the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the 2nd quarter worth $971,285,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of U.S. Bancorp by 7.2% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after purchasing an additional 1,189,525 shares in the last quarter. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 4.5% in the third quarter. Invesco Ltd. now owns 16,320,086 shares of the financial services provider’s stock worth $788,750,000 after purchasing an additional 706,729 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of U.S. Bancorp by 16.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock valued at $560,559,000 after purchasing an additional 1,631,550 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction that occurred 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 directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USB. UBS Group reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. TD Cowen raised their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. HSBC restated a “buy” rating and set a $62.00 price target on shares of U.S. Bancorp in a research report on Wednesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a report on Monday, February 9th. Finally, Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.02.

U.S. Bancorp Price Performance

NYSE:USB opened at $51.00 on Monday. 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 moving average price is $55.86 and its 200 day moving average price is $51.62. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $61.19. The firm has a market cap of $79.17 billion, a P/E ratio of 11.04, a PEG ratio of 0.91 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share 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 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. U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp Company 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.