Empirical Finance LLC Reduces Stake in U.S. Bancorp (NYSE:USB)

Empirical Finance LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 4.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 48,523 shares of the financial services provider’s stock after selling 2,203 shares during the period. Empirical Finance LLC’s holdings in U.S. Bancorp were worth $1,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Naples Global Advisors LLC lifted its holdings in U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after buying an additional 248 shares during the period. Kavar Capital Partners Group LLC raised its position in shares of U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares in the last quarter. Motley Fool Wealth Management LLC raised its position in shares of U.S. Bancorp by 0.7% in the 1st quarter. Motley Fool Wealth Management LLC now owns 38,362 shares of the financial services provider’s stock worth $1,715,000 after acquiring an additional 251 shares in the last quarter. Vestor Capital LLC raised its position in shares of U.S. Bancorp by 1.5% in the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock worth $744,000 after acquiring an additional 253 shares in the last quarter. Finally, Atlas Brown Inc. raised its position in shares of U.S. Bancorp by 2.1% in the 2nd quarter. Atlas Brown Inc. now owns 12,697 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.5 %

U.S. Bancorp stock opened at $47.23 on Friday. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 4.20 and a beta of 1.04. The stock has a fifty day simple moving average of $42.66 and a two-hundred day simple moving average of $41.85. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. Equities analysts predict that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Buying and Selling

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. The Goldman Sachs Group increased their target price on U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company increased their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Evercore ISI increased their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $48.23.

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.