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

Chevy Chase Trust Holdings LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 3.4% during the third quarter, Holdings Channel reports. 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’s holdings in U.S. Bancorp were worth $39,057,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake 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 purchasing an additional 1,279,104 shares in the last quarter. Norges Bank purchased a new stake in U.S. Bancorp during the second quarter valued at about $971,285,000. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in U.S. Bancorp by 7.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock valued at $858,290,000 after buying an additional 1,189,525 shares in the last quarter. Invesco Ltd. boosted its holdings 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 buying an additional 706,729 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 16.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock worth $560,559,000 after buying an additional 1,631,550 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB stock opened at $51.00 on Monday. The firm has a 50 day simple moving average of $55.86 and a 200 day simple moving average of $51.62. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The stock has a market cap of $79.17 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Insider Buying and Selling at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on USB shares. Keefe, Bruyette & Woods boosted their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Royal Bank Of Canada raised their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Evercore lifted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Argus increased their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

About U.S. Bancorp

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.