Avanza Fonder AB Has $5.10 Million Stock Position in U.S. Bancorp (NYSE:USB)

Avanza Fonder AB increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 118,514 shares of the financial services provider's stock after purchasing an additional 7,563 shares during the period. Avanza Fonder AB's holdings in U.S. Bancorp were worth $5,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at $777,524,000. Invesco Ltd. boosted its position in U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after acquiring an additional 5,449,949 shares during the period. Marshall Wace LLP grew its stake in U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at about $184,733,000. Finally, FMR LLC boosted its holdings in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was 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 $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on USB. Evercore ISI upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 3rd. Barclays reduced their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Truist Financial cut their price objective on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.72.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $1.03 during midday trading on Wednesday, hitting $44.21. The company had a trading volume of 13,017,675 shares, compared to its average volume of 9,043,099. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The business's 50 day simple moving average is $41.31 and its two-hundred day simple moving average is $45.27. The stock has a market cap of $68.87 billion, a PE ratio of 11.66, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period last year, the business posted $0.78 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

About U.S. Bancorp

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.