Focus Financial Network Inc. Sells 8,168 Shares of U.S. Bancorp (NYSE:USB)

Focus Financial Network Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 12.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,055 shares of the financial services provider's stock after selling 8,168 shares during the quarter. Focus Financial Network Inc.'s holdings in U.S. Bancorp were worth $2,367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of USB. Brighton Jones LLC grew its holdings in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $971,000. Empowered Funds LLC boosted its holdings in shares of U.S. Bancorp by 22.0% in the fourth quarter. Empowered Funds LLC now owns 33,697 shares of the financial services provider's stock valued at $1,612,000 after buying an additional 6,079 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of U.S. Bancorp by 11.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 31,190 shares of the financial services provider's stock valued at $1,492,000 after buying an additional 3,123 shares during the period. Finally, Savant Capital LLC boosted its holdings in shares of U.S. Bancorp by 4.6% in the fourth quarter. Savant Capital LLC now owns 61,049 shares of the financial services provider's stock valued at $2,920,000 after buying an additional 2,670 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. Oppenheimer upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Truist Financial reduced their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group upped their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Two equities research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.72.

U.S. Bancorp Stock Performance

Shares of USB traded down $1.23 during trading hours on Friday, hitting $42.93. The company had a trading volume of 9,466,826 shares, compared to its average volume of 9,070,042. The firm has a market cap of $66.88 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.73 and a beta of 0.99. The business has a fifty day moving average of $41.74 and a 200-day moving average of $45.06. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 in the prior year, the firm earned $0.78 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal 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.