Fort Washington Investment Advisors Inc. OH Sells 42,703 Shares of U.S. Bancorp (NYSE:USB)

Fort Washington Investment Advisors Inc. OH lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,620,859 shares of the financial services provider's stock after selling 42,703 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.10% of U.S. Bancorp worth $68,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in U.S. Bancorp by 85.5% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 42,972 shares of the financial services provider's stock valued at $1,814,000 after buying an additional 19,806 shares during the period. Davis Investment Partners LLC acquired a new position in U.S. Bancorp in the first quarter valued at about $686,000. Simon Quick Advisors LLC lifted its stake in U.S. Bancorp by 81.0% in the first quarter. Simon Quick Advisors LLC now owns 10,962 shares of the financial services provider's stock valued at $463,000 after buying an additional 4,905 shares during the period. Coerente Capital Management lifted its stake in U.S. Bancorp by 1.0% in the first quarter. Coerente Capital Management now owns 415,987 shares of the financial services provider's stock valued at $17,563,000 after buying an additional 4,322 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in U.S. Bancorp by 0.8% in the first quarter. Assenagon Asset Management S.A. now owns 50,597 shares of the financial services provider's stock valued at $2,136,000 after buying an additional 406 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on USB. Wall Street Zen lowered U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. DA Davidson cut their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $51.00 target price (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Oppenheimer raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Barclays dropped their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.72.

Insiders Place Their Bets

In related news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Down 2.8%

U.S. Bancorp stock traded down $1.23 during midday trading on Friday, reaching $42.93. The stock had a trading volume of 9,466,826 shares, compared to its average volume of 9,070,042. The firm's fifty day simple moving average is $41.74 and its 200-day simple moving average is $45.01. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a market capitalization of $66.88 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. 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 (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter last year, the firm earned $0.78 EPS. As a group, analysts expect 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.