Park Avenue Securities LLC Has $7.70 Million Stake in U.S. Bancorp (NYSE:USB)

Park Avenue Securities LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 182,304 shares of the financial services provider's stock after purchasing an additional 7,443 shares during the quarter. Park Avenue Securities LLC's holdings in U.S. Bancorp were worth $7,697,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. FIL Ltd grew its stake in shares of U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 8,542 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp grew its position in U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider's stock valued at $55,427,000 after acquiring an additional 312,504 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider's stock valued at $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Sovran Advisors LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $369,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Down 0.1%

USB traded down $0.03 during mid-day trading on Thursday, hitting $44.17. The stock had a trading volume of 9,552,592 shares, compared to its average volume of 9,045,131. The stock's fifty day simple moving average is $41.46 and its 200-day simple moving average is $45.26. The firm has a market capitalization of $68.82 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth 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 debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

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

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were 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 $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America cut their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Oppenheimer upped their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Piper Sandler reduced their price target on shares of 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. Barclays lowered their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley dropped their price target on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.72.

U.S. Bancorp Company Profile

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.