BNC Wealth Management LLC Purchases 54,561 Shares of U.S. Bancorp (NYSE:USB)

BNC Wealth Management LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 977.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,141 shares of the financial services provider's stock after buying an additional 54,561 shares during the period. BNC Wealth Management LLC's holdings in U.S. Bancorp were worth $2,539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP grew its stake in shares of U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock worth $392,000 after acquiring an additional 210 shares during the last quarter. Covestor Ltd grew its stake in shares of U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after acquiring an additional 214 shares during the last quarter. TrinityPoint Wealth LLC grew its stake in shares of U.S. Bancorp by 2.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after acquiring an additional 231 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of U.S. Bancorp by 36.6% in the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after acquiring an additional 242 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of U.S. Bancorp by 5.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider's stock worth $249,000 after acquiring an additional 252 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded down $1.23 during trading on Friday, reaching $42.93. The company's stock had a trading volume of 9,466,826 shares, compared to its average volume of 9,070,042. The stock has a 50-day moving average price of $41.74 and a two-hundred day moving average price of $45.06. 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 has a one year low of $35.18 and a one year high of $53.98. The stock has a market capitalization of $66.88 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on USB shares. Royal Bank of Canada lowered 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 note on Thursday, April 17th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Evercore ISI raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a research report on Wednesday, June 4th. Finally, Truist Financial reduced their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.