Empirical Asset Management LLC Boosts Stake in U.S. Bancorp (NYSE:USB)

Empirical Asset Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 63.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,821 shares of the financial services provider’s stock after acquiring an additional 9,658 shares during the quarter. Empirical Asset Management LLC’s holdings in U.S. Bancorp were worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of USB. Winch Advisory Services LLC lifted its holdings in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the period. Global Wealth Strategies & Associates increased its position in shares of U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Frazier Financial Advisors LLC raised its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $38,000. Finally, First Financial Corp IN bought a new position in U.S. Bancorp during the fourth quarter valued at about $41,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.8 %

Shares of USB stock opened at $48.40 on Friday. The company has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business’s fifty day moving average is $50.22 and its 200 day moving average is $46.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Wells Fargo & Company raised their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Company 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.