Chicago Partners Investment Group LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 13.2% during the third quarter, Holdings Channel reports. The fund owned 16,741 shares of the financial services provider’s stock after buying an additional 1,954 shares during the period. Chicago Partners Investment Group LLC’s holdings in U.S. Bancorp were worth $863,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in U.S. Bancorp during the second quarter worth approximately $131,487,000. Bank of New York Mellon Corp increased its position in U.S. Bancorp by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after buying an additional 2,071,326 shares during the last quarter. BTIM Corp. acquired a new position in U.S. Bancorp during the second quarter worth approximately $78,408,000. Chevy Chase Trust Holdings Inc. acquired a new position in U.S. Bancorp during the second quarter worth approximately $72,386,000. Finally, Cornerstone Wealth Management LLC increased its position in U.S. Bancorp by 5,122.1% during the second quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock worth $22,487,000 after buying an additional 1,111,912 shares during the last quarter. 74.42% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp stock opened at $52.93 on Friday. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $85.07 billion, a PE ratio of 15.48, a PEG ratio of 1.71 and a beta of 0.91.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a $0.37 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. U.S. Bancorp’s dividend payout ratio is presently 43.27%.
A number of equities analysts have weighed in on the company. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Citigroup downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, October 12th. Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Finally, Oppenheimer raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research report on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.36.
In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the business’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the sale, the insider now directly owns 121,137 shares in the company, valued at $6,154,970.97. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the business’s stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total value of $821,374.84. Following the completion of the sale, the insider now owns 124,086 shares of the company’s stock, valued at $6,565,390.26. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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