Davis Investment Partners LLC Takes $686,000 Position in U.S. Bancorp (NYSE:USB)

Davis Investment Partners LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,247 shares of the financial services provider’s stock, valued at approximately $686,000.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Norges Bank bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $777,524,000. Invesco Ltd. raised 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 buying an additional 5,449,949 shares during the last quarter. Marshall Wace LLP raised 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 buying 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 4th quarter worth approximately $184,733,000. Finally, FMR LLC raised its holdings in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on USB. Wells Fargo & Company decreased their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Cowen began coverage on U.S. Bancorp in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Evercore ISI upped their price objective on 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 upped their price objective on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Royal Bank of Canada decreased their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.72.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $44.21 on Thursday. The stock’s fifty day moving average is $41.46 and its two-hundred day moving average is $45.26. The company has a market capitalization of $68.87 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. 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 has a 52 week low of $35.18 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the business’s stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

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.