Bell Bank Increases Stock Position in U.S. Bancorp (NYSE:USB)

Bell Bank lifted its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 2,876.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,158 shares of the financial services provider's stock after acquiring an additional 166,374 shares during the period. Bell Bank's holdings in U.S. Bancorp were worth $7,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in U.S. Bancorp in the 4th quarter worth $26,000. FPC Investment Advisory Inc. purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Millstone Evans Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $31,000. Finally, REAP Financial Group LLC grew its holdings in shares of U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on USB. Royal Bank of Canada decreased their price objective on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Piper Sandler lowered their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, Evercore ISI increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.72.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction 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 purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Down 1.1%

NYSE:USB traded down $0.47 during mid-day trading on Tuesday, hitting $42.68. 10,921,036 shares of the company's stock traded hands, compared to its average volume of 9,098,044. The company has a fifty day moving average of $41.88 and a 200 day moving average of $44.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market capitalization of $66.49 billion, a P/E 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 earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share 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 the consensus estimate 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 quarter in the previous year, the firm earned $0.78 EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

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.