U.S. Bancorp (NYSE:USB) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 393,683 shares of the financial services provider’s stock after selling 45,260 shares during the period. Handelsbanken Fonder AB’s holdings in U.S. Bancorp were worth $16,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Avanza Fonder AB increased its position in U.S. Bancorp by 6.8% during the 1st quarter. Avanza Fonder AB now owns 118,514 shares of the financial services provider’s stock worth $5,097,000 after purchasing an additional 7,563 shares during the period. Manitou Investment Management Ltd. acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $64,000. Accurate Wealth Management LLC increased its position in U.S. Bancorp by 18.5% during the 1st quarter. Accurate Wealth Management LLC now owns 11,771 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 1,839 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $205,000. Finally, GAMMA Investing LLC grew its holdings in shares of U.S. Bancorp by 0.9% in the 1st quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock worth $1,548,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They issued a “buy” rating and a $60.00 price target on the stock. DA Davidson lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Oppenheimer upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price target on U.S. Bancorp from $56.00 to $50.00 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 assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.72.

U.S. Bancorp Stock Down 2.3%

NYSE USB opened at $44.21 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a 50-day simple moving average of $41.46 and a 200 day simple moving average of $45.26. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock has a market cap of $68.87 billion, a PE ratio of 11.66, a PEG ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

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.