U.S. Bancorp (NYSE:USB) Shares Acquired by Rockland Trust Co.

Rockland Trust Co. increased its stake in U.S. Bancorp (NYSE:USB) by 1.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,169 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Rockland Trust Co.’s holdings in U.S. Bancorp were worth $1,020,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of USB. Norges Bank acquired a new position in shares of U.S. Bancorp in the 4th quarter worth $777,524,000. Invesco Ltd. grew its holdings in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after buying an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $184,733,000. Finally, FMR LLC grew its holdings in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after buying an additional 3,211,815 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of 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 business has a 50-day moving average of $41.74 and a two-hundred day moving average of $45.12. The stock has a market capitalization of $66.88 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.73 and a beta of 0.99. 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) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on USB shares. Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. 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. Finally, Keefe, Bruyette & Woods lowered their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.72.

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.