Everhart Financial Group Inc. Grows Position in U.S. Bancorp (NYSE:USB)

Everhart Financial Group Inc. increased its position in U.S. Bancorp (NYSE:USB) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,992 shares of the financial services provider’s stock after purchasing an additional 337 shares during the quarter. Everhart Financial Group Inc.’s holdings in U.S. Bancorp were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Norges Bank purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $777,524,000. Invesco Ltd. lifted its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the period. Marshall Wace LLP lifted its stake in shares of U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after purchasing an additional 4,663,518 shares during the period. Raymond James Financial Inc. purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $184,733,000. Finally, FMR LLC lifted its stake in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.8%

U.S. Bancorp stock opened at $42.93 on Friday. The stock has a market cap of $66.88 billion, a PE ratio of 11.33, 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 quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a fifty day moving average of $41.74 and a 200 day moving average of $45.12.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations 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 business earned $0.78 earnings per share. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on USB shares. Raymond James reiterated an “outperform” rating and set a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. TD Cowen started coverage on U.S. Bancorp in a research note on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective for the company. Bank of America lowered their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Wells Fargo & Company lowered their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $50.72.

Insiders Place Their Bets

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

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.