Handelsbanken Fonder AB Has $16.62 Million Holdings in U.S. Bancorp (NYSE:USB)

Handelsbanken Fonder AB reduced its stake in U.S. Bancorp (NYSE:USB - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 393,683 shares of the financial services provider's stock after selling 45,260 shares during the period. Handelsbanken Fonder AB's holdings in U.S. Bancorp were worth $16,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. FIL Ltd raised its position in shares of U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares during the period. Wesbanco Bank Inc. increased its position in shares of U.S. Bancorp by 31.6% in the 1st 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 position in shares of U.S. Bancorp by 0.8% in the 4th 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 position in shares of U.S. Bancorp by 36.9% in the 4th 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 position in shares of U.S. Bancorp by 11.3% in the 4th 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 currently owned by institutional investors.

U.S. Bancorp Stock Down 0.1%

NYSE USB traded down $0.03 during trading hours on Thursday, hitting $44.17. 9,552,592 shares of the company traded hands, compared to its average volume of 9,040,114. The business's 50-day moving average is $41.46 and its 200-day moving average is $45.26. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $68.82 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insiders Place Their Bets

In other U.S. Bancorp 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on USB shares. The Goldman Sachs Group boosted their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday. DA Davidson decreased their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada cut their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Truist Financial cut their price objective 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. 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's stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $50.72.

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.