Chevy Chase Trust Holdings LLC Increases Holdings in U.S. Bancorp $USB

Chevy Chase Trust Holdings LLC increased its stake in U.S. Bancorp (NYSE:USB) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 837,007 shares of the financial services provider’s stock after purchasing an additional 4,792 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of U.S. Bancorp worth $37,875,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in USB. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. GAMMA Investing LLC grew its position in shares of U.S. Bancorp by 0.9% in the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 333 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of U.S. Bancorp in the first quarter valued at $327,000. Janney Montgomery Scott LLC purchased a new position in shares of U.S. Bancorp in the first quarter valued at $12,261,000. Finally, Kingswood Wealth Advisors LLC grew its position in shares of U.S. Bancorp by 3.4% in the first 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 in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.0%

Shares of USB stock opened at $45.66 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $47.93 and a two-hundred day moving average price of $44.81. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a market cap of $71.06 billion, a P/E 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 issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares of the company’s stock, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $51.00 to $57.00 in a research report on Monday, July 7th. Oppenheimer dropped their price objective on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Truist Financial lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday. Finally, Evercore ISI lifted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.48.

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.