SG Americas Securities LLC Sells 294,113 Shares of U.S. Bancorp (NYSE:USB)

SG Americas Securities LLC lowered its stake in U.S. Bancorp (NYSE:USB - Free Report) by 84.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,885 shares of the financial services provider's stock after selling 294,113 shares during the quarter. SG Americas Securities LLC's holdings in U.S. Bancorp were worth $2,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $28,000. Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management acquired a new stake in U.S. Bancorp in the fourth quarter worth $30,000. Finally, REAP Financial Group LLC boosted its position in shares of U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Up 1.2%

Shares of NYSE:USB traded up $0.49 during trading on Wednesday, hitting $43.18. 7,457,622 shares of the company were exchanged, compared to its average volume of 9,106,779. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.62 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm has a fifty day moving average price of $41.95 and a two-hundred day moving average price of $44.92.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data 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. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the business earned $0.78 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on USB. Evercore ISI upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Morgan Stanley cut their price objective on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Finally, Piper Sandler dropped their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.72.

Insider Transactions at U.S. Bancorp

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 cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by corporate insiders.

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.