U.S. Bancorp $USB Shares Acquired by Focus Partners Wealth

Key Points

• Focus Partners Wealth boosted its U.S. Bancorp stake by 70.1% in the fourth quarter, ending with 817,315 shares worth about $43.6 million.
• Institutional ownership in U.S. Bancorp remains high at 77.6%, with several large investors such as Norges Bank, Capital Research Global Investors, and others also adding or establishing positions.
• U.S. Bancorp reported better-than-expected Q1 earnings of $1.18 per share on revenue of $7.32 billion, while analysts currently rate the stock a Moderate Buy with an average target price of $61.29.

Focus Partners Wealth increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 70.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 817,315 shares of the financial services provider's stock after purchasing an additional 336,835 shares during the quarter. Focus Partners Wealth owned 0.05% of U.S. Bancorp worth $43,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $1,887,497,000. Capital Research Global Investors acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $296,377,000. SG Americas Securities LLC increased its position in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider's stock worth $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of U.S. Bancorp by 63.2% during the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider's stock worth $505,866,000 after purchasing an additional 3,672,742 shares during the last quarter. Finally, Davis Selected Advisers increased its position in shares of U.S. Bancorp by 13.4% during the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider's stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $57.78 on Tuesday. The business has a 50-day moving average of $55.34 and a 200 day moving average of $54.64. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The stock has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. During the same period last year, the business posted $1.03 EPS. U.S. Bancorp's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Wall Street Zen downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Weiss Ratings raised U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. DA Davidson reissued a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.29.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company's stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

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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