U.S. Bancorp (NYSE:USB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.2% during the first quarter, Holdings Channel.com reports. The fund owned 876,620 shares of the financial services provider’s stock after selling 10,584 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in U.S. Bancorp were worth $39,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after acquiring an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares during the period. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter worth about $827,370,000. Morgan Stanley boosted its position in shares of U.S. Bancorp by 4.3% in the 3rd quarter. Morgan Stanley now owns 18,129,558 shares of the financial services provider’s stock valued at $599,363,000 after purchasing an additional 751,865 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of U.S. Bancorp by 3.0% in the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock valued at $411,570,000 after purchasing an additional 265,734 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.45 during trading on Wednesday, reaching $40.32. The company had a trading volume of 4,943,086 shares, compared to its average volume of 8,303,090. The firm’s 50 day simple moving average is $40.13 and its two-hundred day simple moving average is $41.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85. The company has a market capitalization of $62.92 billion, a PE ratio of 13.29, a PEG ratio of 3.81 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business earned $1.16 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. Sell-side analysts forecast that U.S. Bancorp will post 3.83 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USB. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price target on shares of U.S. Bancorp in a research report on Friday, June 21st. Wells Fargo & Company decreased their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Finally, UBS Group decreased their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.84.

About U.S. Bancorp

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.