50,354 Shares in U.S. Bancorp $USB Purchased by ASO GROUP Ltd

ASO GROUP Ltd bought a new position in U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,354 shares of the financial services provider's stock, valued at approximately $2,687,000. U.S. Bancorp makes up about 1.0% of ASO GROUP Ltd's holdings, making the stock its 16th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. increased its holdings in U.S. Bancorp by 2.4% during the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock valued at $84,568,000 after buying an additional 41,803 shares during the last quarter. Danske Bank A S purchased a new stake in U.S. Bancorp during the third quarter valued at approximately $37,162,000. Nordea Investment Management AB boosted its position in shares of U.S. Bancorp by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider's stock worth $144,462,000 after purchasing an additional 357,300 shares during the period. Goodman Advisory Group LLC boosted its position in shares of U.S. Bancorp by 30.5% in the third quarter. Goodman Advisory Group LLC now owns 194,035 shares of the financial services provider's stock worth $9,378,000 after purchasing an additional 45,365 shares during the period. Finally, Lighthouse Investment Partners LLC boosted its position in shares of U.S. Bancorp by 92.9% in the third quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider's stock worth $12,195,000 after purchasing an additional 121,529 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

USB has been the subject of a number of recent analyst reports. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Oppenheimer upped their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

U.S. Bancorp Trading Up 1.5%

Shares of USB opened at $57.66 on Friday. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The company has a market cap of $89.44 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company's fifty day simple moving average is $55.12 and its 200-day simple moving average is $54.50.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. As a group, analysts expect that U.S. Bancorp will post 5.09 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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