Acropolis Investment Management LLC Lowers Position in U.S. Bancorp (NYSE:USB)

Acropolis Investment Management LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,280 shares of the financial services provider’s stock after selling 593 shares during the quarter. Acropolis Investment Management LLC’s holdings in U.S. Bancorp were worth $518,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in U.S. Bancorp during the fourth quarter valued at $777,524,000. Invesco Ltd. raised its stake in 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 purchasing an additional 5,449,949 shares in the last quarter. Marshall Wace LLP raised its stake in 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 purchasing an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at $184,733,000. Finally, FMR LLC raised its stake in U.S. Bancorp by 5.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Piper Sandler cut their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research report on Thursday, April 3rd. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.72.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Up 0.4%

NYSE USB opened at $43.14 on Tuesday. 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 has a 12 month low of $35.18 and a 12 month high of $53.98. The company’s 50-day moving average price is $41.88 and its 200-day moving average price is $44.93. The stock has a market cap of $67.22 billion, a PE ratio of 11.38, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business earned $0.78 EPS. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

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.