U.S. Bancorp (NYSE:USB) Shares Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp increased its position in shares of U.S. Bancorp (NYSE:USB) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,581 shares of the financial services provider’s stock after purchasing an additional 575 shares during the period. Chase Investment Counsel Corp’s holdings in U.S. Bancorp were worth $483,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. McAdam LLC raised its position in shares of U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 209 shares in the last quarter. Covestor Ltd lifted its position in shares of U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after buying an additional 230 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after buying an additional 242 shares in the last quarter. Phillips Wealth Planners LLC grew its position in shares of U.S. Bancorp by 2.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after buying an additional 243 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its position in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $50.80 on Wednesday. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a 50-day simple moving average of $46.69 and a 200 day simple moving average of $43.53. The company has a market cap of $79.25 billion, a PE ratio of 15.54, a P/E/G ratio of 3.01 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.94%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on USB shares. Barclays increased their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $51.12.

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.