Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,767 shares of the financial services provider’s stock after selling 2,722 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in U.S. Bancorp were worth $515,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stablepoint Partners LLC boosted its stake in shares of U.S. Bancorp by 1.9% during the fourth quarter. Stablepoint Partners LLC now owns 30,407 shares of the financial services provider’s stock valued at $1,454,000 after purchasing an additional 565 shares in the last quarter. Patton Albertson Miller Group LLC bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $210,000. Grange Capital LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $689,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in U.S. Bancorp by 33.9% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 892,880 shares of the financial services provider’s stock worth $42,733,000 after acquiring an additional 226,117 shares during the last quarter. Finally, CFS Investment Advisory Services LLC increased its position in U.S. Bancorp by 7.7% in the 4th quarter. CFS Investment Advisory Services LLC now owns 18,939 shares of the financial services provider’s stock valued at $906,000 after acquiring an additional 1,356 shares during the period. Institutional investors own 77.60% of the company’s stock.
U.S. Bancorp Trading Down 1.6 %
USB opened at $47.65 on Thursday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $74.34 billion, a PE ratio of 12.57, a P/E/G ratio of 1.81 and a beta of 1.05. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50-day moving average is $49.93 and its 200 day moving average is $47.30.
U.S. Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.
Analyst Upgrades and Downgrades
USB has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.
About U.S. Bancorp
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.
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