Baker Avenue Asset Management LP lifted its holdings in U.S. Bancorp (NYSE:USB) by 7.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 62,581 shares of the financial services provider’s stock after acquiring an additional 4,183 shares during the quarter. Baker Avenue Asset Management LP’s holdings in U.S. Bancorp were worth $3,353,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in USB. Virtue Capital Management LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $102,000. Meeder Asset Management Inc. bought a new stake in U.S. Bancorp during the 4th quarter valued at $106,000. Delpha Capital Management LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at $109,000. James Hambro & Partners bought a new stake in U.S. Bancorp during the 4th quarter valued at $110,000. Finally, Horan Capital Advisors LLC. bought a new stake in U.S. Bancorp during the 3rd quarter valued at $112,000. Hedge funds and other institutional investors own 74.42% of the company’s stock.
USB has been the subject of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating and set a $63.00 price target on shares of U.S. Bancorp in a report on Monday, January 8th. Vining Sparks reiterated a “buy” rating and set a $64.00 price target on shares of U.S. Bancorp in a report on Monday, January 8th. Deutsche Bank upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price target for the company from $60.00 to $63.00 in a report on Thursday, January 25th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Friday, February 2nd. Finally, Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, January 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.64.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. equities research analysts predict that U.S. Bancorp will post 4.05 earnings per share for the current year.
In other news, EVP Craig E. Gifford sold 45,890 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total value of $2,540,011.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman P.W. Parker sold 98,485 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.95, for a total transaction of $5,510,235.75. The disclosure for this sale can be found here. Insiders sold a total of 168,016 shares of company stock worth $9,356,775 over the last ninety days. Insiders own 0.43% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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