Chevy Chase Trust Holdings LLC Buys 4,792 Shares of U.S. Bancorp $USB

Chevy Chase Trust Holdings LLC increased its stake in U.S. Bancorp (NYSE:USB) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 837,007 shares of the financial services provider’s stock after purchasing an additional 4,792 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in U.S. Bancorp were worth $37,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Brighton Jones LLC lifted its stake in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 333 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $327,000. Janney Montgomery Scott LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $12,261,000. Finally, Kingswood Wealth Advisors LLC increased its holdings in U.S. Bancorp by 3.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 10,495 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 350 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.0%

USB stock opened at $45.66 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The business’s 50 day moving average price is $47.93 and its two-hundred day moving average price is $44.81. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $71.06 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. DA Davidson upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a research report on Friday. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday. Finally, Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.48.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.