Victory Capital Management Inc. grew its position in U.S. Bancorp (NYSE:USB) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 701,382 shares of the financial services provider’s stock after buying an additional 5,318 shares during the quarter. Victory Capital Management Inc.’s holdings in U.S. Bancorp were worth $33,800,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of U.S. Bancorp by 12.9% in the fourth quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock worth $1,259,651,000 after buying an additional 3,143,660 shares during the period. Northern Trust Corp boosted its holdings in shares of U.S. Bancorp by 2.9% during the fourth quarter. Northern Trust Corp now owns 20,129,830 shares of the financial services provider’s stock worth $919,933,000 after purchasing an additional 561,261 shares during the period. Geode Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after purchasing an additional 1,285,265 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of U.S. Bancorp by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 16,427,901 shares of the financial services provider’s stock worth $750,754,000 after purchasing an additional 465,927 shares during the period. Finally, Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $723,318,000. Institutional investors own 75.98% of the company’s stock.
In related news, Vice Chairman Leslie V. Godridge sold 12,564 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $51.53, for a total transaction of $647,422.92. Following the transaction, the insider now owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,233 shares of company stock worth $1,907,734. Insiders own 0.24% of the company’s stock.
Several analysts recently commented on USB shares. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Oppenheimer raised their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price target for the company. in a report on Monday, January 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $58.33.
USB traded up $0.39 during midday trading on Friday, hitting $51.89. 996,458 shares of the company’s stock traded hands, compared to its average volume of 5,403,170. The firm has a market cap of $80.86 billion, a PE ratio of 12.66, a PEG ratio of 1.69 and a beta of 1.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.84. U.S. Bancorp has a one year low of $43.14 and a one year high of $55.56.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share for the quarter, meeting the consensus estimate of $1.00. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.29 earnings per share for the current fiscal year.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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