Inceptionr LLC Acquires 22,348 Shares of U.S. Bancorp $USB

Key Points

• Inceptionr LLC boosted its U.S. Bancorp stake by 424.4% in the fourth quarter, adding 22,348 shares to reach 27,614 shares valued at about $1.47 million.
• Wall Street remains broadly positive on U.S. Bancorp, with analysts assigning an average rating of “Moderate Buy” and an average price target of $61.20.
• Recent insider activity was mostly selling, including notable share sales by EVP Venkatachari Dilip and insider Jodi L. Richard, while the company also reported better-than-expected quarterly earnings with EPS of $1.18 versus $1.14 expected.

Inceptionr LLC increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 424.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,614 shares of the financial services provider's stock after acquiring an additional 22,348 shares during the period. Inceptionr LLC's holdings in U.S. Bancorp were worth $1,473,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new position in shares of U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC bought a new position in shares of U.S. Bancorp in the third quarter valued at approximately $28,000. Binnacle Investments Inc grew its holdings in shares of U.S. Bancorp by 77.8% in the third 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 in the last quarter. Finally, Westfuller Advisors LLC grew its holdings in shares of U.S. Bancorp by 54.7% in the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 215 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their target price on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Truist Financial dropped their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research note on Friday, April 17th. Oppenheimer upped their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Barclays upped their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.20.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction on 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 sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $56.86 on Thursday. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. 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's 50 day simple moving average is $55.01 and its 200 day simple moving average is $54.43. The company has a market cap of $88.20 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate 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 business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. U.S. Bancorp's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 5.09 EPS for the current year.

About U.S. Bancorp

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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