16,247 Shares in U.S. Bancorp (NYSE:USB) Acquired by Davis Investment Partners LLC

Davis Investment Partners LLC acquired a new position in U.S. Bancorp (NYSE:USB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,247 shares of the financial services provider's stock, valued at approximately $686,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after buying an additional 1,079,056 shares in the last quarter. FMR LLC grew its stake in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC grew its stake in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares in the last quarter. Finally, Amundi grew its stake in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock valued at $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Truist Financial reduced their price target on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. DA Davidson reduced their price target on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price target on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research report on Thursday, April 3rd. Finally, Raymond James reaffirmed an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.72.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani bought 5,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $1.23 during trading hours on Friday, hitting $42.93. The stock had a trading volume of 9,466,826 shares, compared to its average volume of 9,070,042. The company has a 50-day moving average of $41.74 and a two-hundred day moving average of $45.06. 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 market cap of $66.88 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

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 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 during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, equities research analysts anticipate 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.