Monarch Capital Management Inc. Reduces Holdings in U.S. Bancorp (NYSE:USB)

Monarch Capital Management Inc. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,187 shares of the financial services provider’s stock after selling 1,145 shares during the period. U.S. Bancorp accounts for about 1.5% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Monarch Capital Management Inc.’s holdings in U.S. Bancorp were worth $5,562,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. FIL Ltd grew its stake in shares of U.S. Bancorp by 42.0% in the fourth 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 period. Wesbanco Bank Inc. increased its position in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Vanguard Group Inc. increased its position in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. M&T Bank Corp grew its holdings in shares of U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock worth $55,427,000 after purchasing an additional 312,504 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on USB. The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday. Raymond James reissued an “outperform” rating and set a $51.00 price target (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. TD Cowen began coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.72.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $45.26 on Wednesday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a market cap of $70.51 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The business’s 50 day moving average price is $41.31 and its two-hundred day moving average price is $45.27. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the company posted $0.78 earnings per share. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of the 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 owns 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

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.