FJ Capital Management LLC Acquires 25,507 Shares of U.S. Bancorp $USB

Key Points

• FJ Capital Management LLC increased its U.S. Bancorp stake by 7.3% in the fourth quarter, buying 25,507 more shares and bringing its total holding to 373,433 shares worth about $19.9 million.
• U.S. Bancorp reported better-than-expected quarterly earnings, posting $1.18 EPS versus the $1.14 consensus estimate, along with revenue of $7.32 billion, up 4.7% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and a $61.20 average price target, though some insiders recently sold shares and one analyst downgraded the stock to sell.

FJ Capital Management LLC grew its position in U.S. Bancorp (NYSE:USB - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 373,433 shares of the financial services provider's stock after acquiring an additional 25,507 shares during the period. U.S. Bancorp accounts for approximately 2.2% of FJ Capital Management LLC's investment portfolio, making the stock its 13th biggest position. FJ Capital Management LLC's holdings in U.S. Bancorp were worth $19,926,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of USB. Financial Life Planners bought a new position in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp in the 3rd quarter valued at $28,000. Binnacle Investments Inc lifted its stake in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 273 shares during the last quarter. Finally, Rossby Financial LCC lifted its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 212 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $58.90 on Friday. 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 business has a 50-day moving average price of $55.25 and a two-hundred day moving average price of $54.53. U.S. Bancorp has a 1-year low of $42.55 and a 1-year high of $61.19. The company has a market cap of $91.37 billion, a P/E ratio of 12.35, a PEG ratio of 1.06 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the business posted $1.03 EPS. The business's revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 5.07 EPS for the current year.

Insider Activity

In other news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on USB shares. DA Davidson reiterated a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. Oppenheimer raised their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "hold" rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Wall Street Zen lowered U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Finally, Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

U.S. Bancorp Company Profile

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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