Covenant Partners LLC Takes $597,000 Position in U.S. Bancorp (NYSE:USB)

Covenant Partners LLC acquired a new stake in U.S. Bancorp (NYSE:USBFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 13,783 shares of the financial services provider’s stock, valued at approximately $597,000.

Other hedge funds also recently modified their holdings of the company. CGC Financial Services LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $30,000. Finally, Quarry LP acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $45,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. cut their price objective on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Evercore ISI raised their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $46.02.

View Our Latest Research Report on USB

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.43 during midday trading on Friday, reaching $38.83. The company’s stock had a trading volume of 5,006,319 shares, compared to its average volume of 8,384,253. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The company has a market cap of $60.59 billion, a P/E ratio of 12.86, a P/E/G ratio of 3.78 and a beta of 1.04. The business’s 50 day moving average price is $40.73 and its two-hundred day moving average price is $41.66.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, analysts forecast that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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