Exchange Traded Concepts LLC Purchases 115,372 Shares of U.S. Bancorp (NYSE:USB)

Exchange Traded Concepts LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 61.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,435 shares of the financial services provider’s stock after purchasing an additional 115,372 shares during the period. Exchange Traded Concepts LLC’s holdings in U.S. Bancorp were worth $12,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in USB. Brighton Jones LLC increased its stake in shares of 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 worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC increased its stake in U.S. Bancorp by 22.0% during the 4th quarter. Empowered Funds LLC now owns 33,697 shares of the financial services provider’s stock worth $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 4th quarter worth $30,000. Catalyst Financial Partners LLC increased its stake in U.S. Bancorp by 4.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 7,483 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 288 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in U.S. Bancorp by 35.8% during the 4th quarter. Vontobel Holding Ltd. now owns 31,153 shares of the financial services provider’s stock worth $1,490,000 after acquiring an additional 8,214 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.8%

Shares of USB opened at $42.93 on Friday. The company has a market capitalization of $66.88 billion, a PE ratio of 11.33, a PEG ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock’s 50-day moving average price is $41.74 and its two-hundred day moving average price is $45.06. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period last year, the company posted $0.78 EPS. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Citigroup cut their price objective on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 24th. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective on the stock. Piper Sandler cut their price objective on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, DA Davidson cut their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $50.72.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.