Accurate Wealth Management LLC Buys 1,839 Shares of U.S. Bancorp (NYSE:USB)

Accurate Wealth Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 18.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 11,771 shares of the financial services provider’s stock after acquiring an additional 1,839 shares during the quarter. Accurate Wealth Management LLC’s holdings in U.S. Bancorp were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of USB. Norges Bank purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $777,524,000. Invesco Ltd. increased its position 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 acquiring an additional 5,449,949 shares during the last quarter. Marshall Wace LLP increased its position 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 acquiring an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Finally, FMR LLC increased its position 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 acquiring an additional 3,211,815 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on USB. Evercore ISI lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. The Goldman Sachs Group lifted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Finally, Oppenheimer lifted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

U.S. Bancorp Stock Up 0.9%

USB opened at $45.26 on Wednesday. The company has a fifty day moving average price of $41.31 and a 200-day moving average price of $45.27. The firm has a market capitalization of $70.51 billion, a P/E ratio of 11.94, a price-to-earnings-growth 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 has a one year low of $35.18 and a one year high of $53.98.

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

Insider Activity

In other news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.