Everhart Financial Group Inc. Acquires 337 Shares of U.S. Bancorp (NYSE:USB)

Everhart Financial Group Inc. boosted its holdings in U.S. Bancorp (NYSE:USB) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,992 shares of the financial services provider’s stock after acquiring an additional 337 shares during the quarter. Everhart Financial Group Inc.’s holdings in U.S. Bancorp were worth $464,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd increased its stake in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. increased its stake in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after acquiring an additional 78,146 shares during the last quarter. Vanguard Group Inc. increased its stake 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 last quarter. M&T Bank Corp increased its stake in U.S. Bancorp by 36.9% in the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock worth $55,427,000 after acquiring an additional 312,504 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of U.S. Bancorp by 11.3% during the 4th 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 last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several recent research reports. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Oppenheimer increased their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. TD Cowen initiated coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective on the stock. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $50.72.

U.S. Bancorp Trading Down 2.8%

NYSE USB opened at $42.93 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. 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 stock has a 50 day simple moving average of $41.74 and a two-hundred day simple moving average of $45.12. The stock has a market cap 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) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.78 EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

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.