State Treasurer State of Michigan lowered its stake in U.S. Bancorp (NYSE:USB) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,130,742 shares of the financial services provider’s stock after selling 20,100 shares during the quarter. State Treasurer State of Michigan’s holdings in U.S. Bancorp were worth $60,585,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in U.S. Bancorp by 311.0% during the 4th quarter. Engineers Gate Manager LP now owns 65,954 shares of the financial services provider’s stock valued at $3,534,000 after purchasing an additional 49,906 shares in the last quarter. HL Financial Services LLC increased its stake in U.S. Bancorp by 1.0% during the 4th quarter. HL Financial Services LLC now owns 2,584,527 shares of the financial services provider’s stock valued at $138,479,000 after purchasing an additional 26,837 shares in the last quarter. Iberiabank Corp increased its stake in U.S. Bancorp by 4.4% during the 4th quarter. Iberiabank Corp now owns 26,358 shares of the financial services provider’s stock valued at $1,455,000 after purchasing an additional 1,118 shares in the last quarter. Front Row Advisors LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $322,000. Finally, Howland Capital Management LLC increased its stake in U.S. Bancorp by 3.0% during the 4th quarter. Howland Capital Management LLC now owns 78,779 shares of the financial services provider’s stock valued at $4,221,000 after purchasing an additional 2,293 shares in the last quarter. Institutional investors own 73.87% of the company’s stock.
Shares of U.S. Bancorp (NYSE USB) opened at $53.97 on Tuesday. U.S. Bancorp has a one year low of $49.53 and a one year high of $58.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The stock has a market cap of $89,560.00, a price-to-earnings ratio of 15.38, a PEG ratio of 1.78 and a beta of 0.87.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.30 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. U.S. Bancorp’s payout ratio is 34.19%.
A number of analysts have commented on the stock. Oppenheimer restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, January 17th. Barclays boosted their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Vining Sparks restated a “hold” rating and set a $61.00 price target on shares of U.S. Bancorp in a research note on Thursday, January 25th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price target for the company. in a research note on Wednesday, January 31st. Finally, Morgan Stanley boosted their price target on shares of U.S. Bancorp from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $58.13.
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U.S. Bancorp Company Profile
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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