Ballentine Partners LLC Acquires 1,666 Shares of U.S. Bancorp (NYSE:USB)

Ballentine Partners LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 8.3% in the fourth quarter, HoldingsChannel reports. The firm owned 21,642 shares of the financial services provider’s stock after purchasing an additional 1,666 shares during the quarter. Ballentine Partners LLC’s holdings in U.S. Bancorp were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC lifted its position in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after acquiring an additional 1,796,336 shares during the period. Geode Capital Management LLC grew its position in shares of U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $48.67 on Thursday. The firm has a market capitalization of $75.93 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.80 and a beta of 1.05. The firm’s 50-day moving average price is $50.10 and its 200-day moving average price is $47.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. 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 4.11%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.