Exchange Traded Concepts LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 61.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 302,435 shares of the financial services provider's stock after acquiring an additional 115,372 shares during the period. Exchange Traded Concepts LLC's holdings in U.S. Bancorp were worth $12,769,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $777,524,000. Invesco Ltd. lifted its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after purchasing an additional 5,449,949 shares during the period. Marshall Wace LLP lifted its holdings in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $184,733,000. Finally, FMR LLC lifted 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. Hedge funds and other institutional investors own 77.60% of the company's stock.
U.S. Bancorp Price Performance
Shares of USB traded down $1.23 during trading hours on Friday, hitting $42.93. 9,466,826 shares of the stock were exchanged, compared to its average volume of 9,070,042. 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 12-month low of $35.18 and a 12-month high of $53.98. The company has a market cap of $66.88 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The stock's 50-day moving average price is $41.74 and its two-hundred day moving average price is $45.06.
U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping 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 period in the previous year, the business earned $0.78 earnings per share. Research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on USB shares. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price for the company. Morgan Stanley decreased their price target on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada decreased their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Finally, Cowen assumed coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus target price of $50.72.
Read Our Latest Analysis on USB
Insider Buying and Selling
In other news, Director Aleem Gillani purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by company 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.
Further Reading
Before you consider U.S. Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and U.S. Bancorp wasn't on the list.
While U.S. Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
