U.S. Bancorp (NYSE:USB) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC has increased its stake in U.S. Bancorp by 111.7% during the 1st quarter, owning 22,793 shares worth approximately $962,000.
• U.S. Bancorp recently reported an EPS of $1.11 for the last quarter, surpassing analysts' expectations of $1.07, with quarterly revenue of $7.06 billion.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.6% and a payout ratio of 47.85%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 111.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,793 shares of the financial services provider's stock after purchasing an additional 12,026 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in U.S. Bancorp were worth $962,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth about $27,000. REAP Financial Group LLC lifted its stake in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares during the last quarter. YANKCOM Partnership grew its holdings in U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. raised its holdings in shares of U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. TD Cowen started coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They set a "buy" rating and a $60.00 target price for the company. Barclays dropped their price objective on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Truist Financial boosted their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Stock Down 2.4%

USB opened at $43.90 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business has a 50 day moving average price of $45.17 and a two-hundred day moving average price of $44.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The company has a market cap of $68.40 billion, a PE ratio of 10.50, a P/E/G ratio of 1.41 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 47.85%.

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.

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