Chase Investment Counsel Corp Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Chase Investment Counsel Corp grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,755 shares of the financial services provider’s stock after buying an additional 1,080 shares during the quarter. Chase Investment Counsel Corp’s holdings in U.S. Bancorp were worth $378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in USB. Exchange Traded Concepts LLC boosted its stake in shares of U.S. Bancorp by 7,110.4% in the third quarter. Exchange Traded Concepts LLC now owns 3,461 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,413 shares during the period. Simplicity Solutions LLC boosted its stake in shares of U.S. Bancorp by 4.6% in the third quarter. Simplicity Solutions LLC now owns 36,546 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 1,612 shares during the period. PDS Planning Inc boosted its stake in U.S. Bancorp by 19.2% during the 3rd quarter. PDS Planning Inc now owns 7,348 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 1,185 shares during the last quarter. Sweet Financial Partners LLC boosted its stake in U.S. Bancorp by 14.4% during the 3rd quarter. Sweet Financial Partners LLC now owns 15,957 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 2,009 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in U.S. Bancorp by 18.7% during the 3rd quarter. Accurate Wealth Management LLC now owns 10,879 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 1,714 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 0.4 %

USB stock opened at $41.30 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The firm’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $40.28. The stock has a market cap of $64.35 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.75%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on USB. DA Davidson reduced their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Evercore ISI increased their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.14.

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.