U.S. Bancorp (NYSE:USB) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of U.S. Bancorp (NYSE:USB) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,462 shares of the financial services provider’s stock after purchasing an additional 3,247 shares during the period. Ritholtz Wealth Management’s holdings in U.S. Bancorp were worth $2,426,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dynamic Advisor Solutions LLC acquired a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $327,000. Opal Wealth Advisors LLC acquired a new stake in U.S. Bancorp during the 1st quarter valued at $44,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of U.S. Bancorp by 5.5% in the first quarter. Farmers & Merchants Investments Inc. now owns 265,368 shares of the financial services provider’s stock valued at $11,204,000 after purchasing an additional 13,825 shares in the last quarter. BNC Wealth Management LLC boosted its position in shares of U.S. Bancorp by 977.8% in the first quarter. BNC Wealth Management LLC now owns 60,141 shares of the financial services provider’s stock worth $2,539,000 after buying an additional 54,561 shares during the period. Finally, Everhart Financial Group Inc. boosted its position in shares of U.S. Bancorp by 3.2% in the first quarter. Everhart Financial Group Inc. now owns 10,992 shares of the financial services provider’s stock worth $464,000 after buying an additional 337 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.8%

NYSE:USB opened at $42.93 on Monday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. 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 firm’s fifty day moving average is $41.74 and its 200-day moving average is $45.01. The firm has a market cap of $66.88 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion during 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 period in the previous year, the company posted $0.78 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Truist Financial dropped their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Barclays reduced their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada dropped their target price on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, TD Cowen initiated coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $60.00 price target for the company. Two equities 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.72.

U.S. Bancorp 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.