Farmers & Merchants Investments Inc. lifted its position in U.S. Bancorp (NYSE:USB - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,368 shares of the financial services provider's stock after acquiring an additional 13,825 shares during the quarter. Farmers & Merchants Investments Inc.'s holdings in U.S. Bancorp were worth $11,204,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of USB. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $26,000. FPC Investment Advisory Inc. bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $30,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp in the 4th quarter worth approximately $30,000. Finally, Millstone Evans Group LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
USB has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays cut 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. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Oppenheimer raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Piper Sandler dropped their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $50.72.
Get Our Latest Stock Report on USB
U.S. Bancorp Stock Down 1.1%
Shares of NYSE:USB traded down $0.47 during trading on Tuesday, hitting $42.68. 10,091,147 shares of the company were exchanged, compared to its average volume of 9,094,750. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average price of $41.88 and a two-hundred day moving average price of $44.93. The stock has a market cap of $66.49 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.73 and a beta of 0.99.
U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.
Insider Transactions at U.S. Bancorp
In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.
About U.S. Bancorp
(
Free Report)
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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