U.S. Bancorp (NYSE:USB) Shares Bought by Chemung Canal Trust Co.

Chemung Canal Trust Co. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 1,013.2% in the first quarter, Holdings Channel reports. The institutional investor owned 106,044 shares of the financial services provider’s stock after acquiring an additional 96,518 shares during the quarter. Chemung Canal Trust Co.’s holdings in U.S. Bancorp were worth $4,740,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CGC Financial Services LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $27,000. Naples Money Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.3 %

Shares of NYSE:USB opened at $39.70 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $61.95 billion, a P/E ratio of 13.15, a P/E/G ratio of 3.82 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. The firm has a fifty day moving average price of $40.35 and a 200 day moving average price of $41.70.

U.S. Bancorp (NYSE:USB) last announced its earnings results 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 business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 3.84 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

USB has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 14th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Sixteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.