Chase Investment Counsel Corp Has $378,000 Stock Position in U.S. Bancorp (NYSE:USB)

Chase Investment Counsel Corp lifted its stake in U.S. Bancorp (NYSE:USB) by 14.1% during the 4th quarter, HoldingsChannel reports. The fund owned 8,755 shares of the financial services provider’s stock after buying an additional 1,080 shares during the period. Chase Investment Counsel Corp’s holdings in U.S. Bancorp were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CGC Financial Services LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $30,000. Finally, Legacy Financial Group LLC acquired a new stake in U.S. Bancorp during the third quarter worth $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Morgan Stanley lifted their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Barclays cut their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.14.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $41.30 on Tuesday. The stock has a market capitalization of $64.35 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.13 and a beta of 1.05. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $42.34 and a two-hundred day moving average price of $40.28.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Equities analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.75%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

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.