JPMorgan Chase & Co. Has $2 Billion Stock Holdings in U.S. Bancorp (NYSE:USB)

JPMorgan Chase & Co. lifted its position in U.S. Bancorp (NYSE:USB) by 54.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,167,368 shares of the financial services provider’s stock after buying an additional 12,779,463 shares during the quarter. JPMorgan Chase & Co. owned about 2.43% of U.S. Bancorp worth $2,000,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Bay Harbor Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth $26,000. Vantage Consulting Group Inc acquired a new stake in U.S. Bancorp in the 4th quarter worth $27,000. Field & Main Bank bought a new position in shares of U.S. Bancorp during the 4th quarter worth about $27,000. Salem Investment Counselors Inc. lifted its stake in shares of U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after buying an additional 288 shares during the period. Finally, Goodwin Investment Advisory acquired a new stake in U.S. Bancorp during the first quarter worth about $29,000. 74.31% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the company. Citigroup raised their price objective on U.S. Bancorp from $63.00 to $65.00 in a research report on Wednesday, April 21st. Jefferies Financial Group increased their price objective on shares of U.S. Bancorp from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, April 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. Compass Point increased their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 18th. Finally, Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of U.S. Bancorp in a research note on Thursday, March 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.10.

In other news, CEO Andrew Cecere sold 184,187 shares of the stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $56.48, for a total transaction of $10,402,881.76. Following the sale, the chief executive officer now directly owns 1,037,110 shares of the company’s stock, valued at $58,575,972.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Terrance R. Dolan sold 19,149 shares of the firm’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,897.39. Following the completion of the sale, the chief financial officer now directly owns 138,374 shares of the company’s stock, valued at approximately $8,179,287.14. The disclosure for this sale can be found here. Insiders sold a total of 312,153 shares of company stock valued at $18,005,134 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Shares of USB traded up $0.24 on Friday, hitting $58.85. The company’s stock had a trading volume of 69,492 shares, compared to its average volume of 7,308,708. The firm has a market capitalization of $87.67 billion, a P/E ratio of 15.42, a PEG ratio of 2.20 and a beta of 1.16. U.S. Bancorp has a fifty-two week low of $34.01 and a fifty-two week high of $62.47. The business has a 50 day moving average price of $59.16. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.49. U.S. Bancorp had a return on equity of 12.52% and a net margin of 24.16%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. On average, research analysts predict that U.S. Bancorp will post 4.57 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio is currently 54.90%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.

Read More: Treasury Bonds

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.