Professional Advisory Services Inc. Buys 37,988 Shares of U.S. Bancorp (NYSE:USB)

Professional Advisory Services Inc. lifted its stake in U.S. Bancorp (NYSE:USB - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 436,557 shares of the financial services provider's stock after acquiring an additional 37,988 shares during the period. U.S. Bancorp accounts for approximately 2.6% of Professional Advisory Services Inc.'s holdings, making the stock its 24th biggest position. Professional Advisory Services Inc.'s holdings in U.S. Bancorp were worth $18,431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in U.S. Bancorp during the 4th quarter valued at $777,524,000. Invesco Ltd. boosted its stake in U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after buying an additional 5,449,949 shares in the last quarter. Marshall Wace LLP boosted its stake in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after buying an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth about $184,733,000. Finally, FMR LLC lifted its holdings in U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Down 2.3%

USB stock traded down $1.03 during midday trading on Wednesday, reaching $44.21. The company had a trading volume of 13,013,059 shares, compared to its average volume of 9,056,869. The company has a 50 day moving average of $41.31 and a two-hundred day moving average of $45.27. The company has a market capitalization of $68.87 billion, a P/E ratio of 11.66, a PEG ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 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 earnings per share for the quarter, topping 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 return on equity of 12.94% and a net margin of 14.75%. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was bought 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 directly owns 15,000 shares of the company's stock, 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 can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent research reports. Cowen initiated coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday. Raymond James reaffirmed an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Evercore ISI raised their price objective on 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, Piper Sandler cut their target price on U.S. Bancorp from $49.00 to $48.00 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 assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.