CHICAGO TRUST Co NA Cuts Holdings in U.S. Bancorp (NYSE:USB)

CHICAGO TRUST Co NA decreased its stake in U.S. Bancorp (NYSE:USB) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,866 shares of the financial services provider’s stock after selling 6,458 shares during the period. CHICAGO TRUST Co NA’s holdings in U.S. Bancorp were worth $590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OLD National Bancorp IN grew its stake in shares of U.S. Bancorp by 1.8% during the second quarter. OLD National Bancorp IN now owns 86,995 shares of the financial services provider’s stock valued at $3,454,000 after buying an additional 1,544 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $20,188,000. Symmetry Partners LLC increased its stake in U.S. Bancorp by 31.8% in the 2nd quarter. Symmetry Partners LLC now owns 13,143 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 3,168 shares during the period. CX Institutional increased its stake in U.S. Bancorp by 1.3% in the 2nd quarter. CX Institutional now owns 22,705 shares of the financial services provider’s stock worth $901,000 after purchasing an additional 284 shares during the period. Finally, Wesbanco Bank Inc. lifted its position in U.S. Bancorp by 11.8% in the second quarter. Wesbanco Bank Inc. now owns 293,258 shares of the financial services provider’s stock valued at $11,642,000 after purchasing an additional 30,960 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price 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. Evercore ISI upped their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Jefferies Financial Group cut their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their price target on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.23.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 0.7 %

Shares of USB traded up $0.31 during mid-day trading on Friday, reaching $42.07. The company had a trading volume of 6,486,583 shares, compared to its average volume of 8,555,180. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. 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 company has a market capitalization of $65.65 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The firm has a 50-day moving average price of $41.27 and a 200 day moving average price of $41.60.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.66%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

U.S. Bancorp Company 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.