Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $683,000 Position in U.S. Bancorp (NYSE:USB)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in shares of U.S. Bancorp (NYSE:USB) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,782 shares of the financial services provider’s stock after selling 2,634 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in U.S. Bancorp were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of USB. Mufg Bank LTD. increased its position in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC raised its stake in U.S. Bancorp by 266.6% in the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after acquiring an additional 17,066,479 shares during the period. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after purchasing an additional 6,479,642 shares during the last quarter. Barclays PLC boosted its position in U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after purchasing an additional 4,813,976 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of U.S. Bancorp in the third quarter valued at about $65,684,000. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Oppenheimer lowered their price target on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. DA Davidson reduced their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company dropped their target price on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. UBS Group decreased their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price objective (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $41.69 on Thursday. The business has a 50 day moving average of $42.35 and a 200-day moving average of $40.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $28.53 and a 1 year high of $45.85. The company has a market capitalization of $65.06 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.16 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.70%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity

In related news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

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.