Chevy Chase Trust Holdings LLC Cuts Stake in U.S. Bancorp (NYSE:USB)

Chevy Chase Trust Holdings LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 867,408 shares of the financial services provider’s stock after selling 9,212 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of U.S. Bancorp worth $34,436,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Naples Global Advisors LLC grew its position in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC boosted its holdings in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 250 shares during the last quarter. Motley Fool Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 0.7% during the 1st quarter. Motley Fool Wealth Management LLC now owns 38,362 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 251 shares during the last quarter. Vestor Capital LLC boosted its holdings in shares of U.S. Bancorp by 1.5% during the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock valued at $744,000 after acquiring an additional 253 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its holdings in shares of U.S. Bancorp by 1.4% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 19,487 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 264 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USB. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a report on Thursday, June 27th. Royal Bank of Canada raised their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. DA Davidson raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Citigroup raised their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded down $0.22 on Wednesday, hitting $43.52. 1,495,062 shares of the company traded hands, compared to its average volume of 8,426,061. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The business has a 50-day simple moving average of $41.80 and a 200 day simple moving average of $41.62. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. The stock has a market capitalization of $67.91 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm posted $1.12 EPS. U.S. Bancorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts expect that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company 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.