Grove Bank & Trust Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Grove Bank & Trust reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 44.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,994 shares of the financial services provider's stock after selling 14,687 shares during the period. Grove Bank & Trust's holdings in U.S. Bancorp were worth $760,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FIL Ltd increased its holdings in U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after buying an additional 78,146 shares in the last quarter. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 0.8% in 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. M&T Bank Corp increased its holdings in U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock valued at $55,427,000 after buying an additional 312,504 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider's stock valued at $18,212,000 after buying an additional 38,802 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were acquired at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Wall Street Zen cut shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Truist Financial lowered their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Raymond James reissued an "outperform" rating and set a $51.00 price objective (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 4th. Finally, DA Davidson dropped their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $50.72.

U.S. Bancorp Stock Up 0.4%

Shares of USB opened at $43.14 on Tuesday. The firm has a market cap of $67.22 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The company's fifty day moving average is $41.88 and its two-hundred day moving average is $44.93. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week 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 earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the firm posted $0.78 EPS. Analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current 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.

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