Ameriprise Financial Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,221,012 shares of the financial services provider’s stock after selling 42,448 shares during the period. Ameriprise Financial Inc. owned approximately 0.31% of U.S. Bancorp worth $279,841,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Stelac Advisory Services LLC acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $103,000. Phocas Financial Corp. acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $109,000. Pathstone Family Office LLC raised its position in shares of U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the last quarter. Hudock Capital Group LLC raised its position in shares of U.S. Bancorp by 0.4% during the second quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after buying an additional 17 shares during the last quarter. Finally, Cadence Bank NA acquired a new position in shares of U.S. Bancorp during the third quarter valued at about $201,000. 73.95% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) opened at $54.56 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $90,540.00, a PE ratio of 16.24, a P/E/G ratio of 1.92 and a beta of 0.85. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $56.61.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.20 annualized dividend and a yield of 2.20%. U.S. Bancorp’s dividend payout ratio is 35.71%.
USB has been the subject of a number of research analyst reports. Citigroup reaffirmed a “neutral” rating and set a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. Jefferies Group reissued a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 12th. Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $55.00 in a research report on Thursday, September 28th. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Bank of America lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $56.00 to $54.00 in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $55.38.
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About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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