Manning & Napier Advisors LLC Sells 40,229 Shares of U.S. Bancorp (NYSE:USB)

Manning & Napier Advisors LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 449,392 shares of the financial services provider's stock after selling 40,229 shares during the period. Manning & Napier Advisors LLC's holdings in U.S. Bancorp were worth $21,494,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of USB. Brooklyn Investment Group grew its stake in shares of U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider's stock worth $219,000 after acquiring an additional 201 shares during the last quarter. McAdam LLC boosted its holdings in U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider's stock valued at $389,000 after purchasing an additional 209 shares during the period. HCR Wealth Advisors grew its position in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock worth $962,000 after purchasing an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC raised its position in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock valued at $243,000 after buying an additional 215 shares during the last quarter. Finally, Essex Savings Bank raised its position in shares of U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock valued at $591,000 after buying an additional 216 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on USB. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Evercore ISI raised their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Stephens boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $54.21.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.38 during mid-day trading on Thursday, reaching $48.04. 6,679,452 shares of the company were exchanged, compared to its average volume of 9,685,833. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a market cap of $74.94 billion, a PE ratio of 12.68, a PEG ratio of 1.81 and a beta of 1.05. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a fifty day moving average of $49.87 and a 200 day moving average of $47.30.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. On average, research analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.16%. U.S. Bancorp's dividend payout ratio is currently 52.77%.

U.S. Bancorp 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.