Rockland Trust Co. Acquires 400 Shares of U.S. Bancorp (NYSE:USB)

Rockland Trust Co. grew its holdings in U.S. Bancorp (NYSE:USB) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,169 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Rockland Trust Co.’s holdings in U.S. Bancorp were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC increased its stake in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC increased its stake in U.S. Bancorp by 22.0% during the fourth quarter. Empowered Funds LLC now owns 33,697 shares of the financial services provider’s stock valued at $1,612,000 after acquiring an additional 6,079 shares during the period. Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter valued at about $30,000. Avidian Wealth Enterprises LLC increased its stake in U.S. Bancorp by 19.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 9,968 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 1,619 shares during the period. Finally, IMS Capital Management increased its stake in U.S. Bancorp by 3.2% during the fourth quarter. IMS Capital Management now owns 49,467 shares of the financial services provider’s stock valued at $2,366,000 after acquiring an additional 1,516 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 2.8%

Shares of USB opened at $42.93 on Friday. The firm has a market capitalization of $66.88 billion, a price-to-earnings ratio of 11.33, a PEG 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. The business’s fifty day moving average price is $41.74 and its two-hundred day moving average price is $45.12. 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 analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $0.78 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. Royal Bank of Canada lowered their price target on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company lowered their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Piper Sandler lowered their price objective on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, DA Davidson lowered their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research note 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 assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $50.72.

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.